The Nigerian Education Loan Fund (NELFUND) says over one million students have applied for its student loan scheme — one of the biggest responses to a government social programme under the Tinubu administration.
In a statement released on Sunday, Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications, said the milestone was reached less than a year after the initiative launched on May 24, 2024. He described the achievement as proof that the scheme is earning strong national support and public trust.
So far, the agency has disbursed over ₦116 billion to students in universities, polytechnics, and colleges of education across the country. The funds cover both school fees and living allowances.
NELFUND’s Managing Director, Akintunde Sawyerr, said the milestone reflects the success of President Bola Tinubu’s Renewed Hope Agenda, which aims to make higher education more accessible to all Nigerians.
“Crossing the one-million mark is more than just a number — it represents renewed hope for young Nigerians determined to overcome financial barriers to education,” Sawyerr said. “It shows what’s possible when there’s clear vision, sound policy, and collective effort
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NELFUND hits one million student loan applications
The agency reaffirmed its commitment to improving service delivery, ensuring that every qualified student, regardless of background or location, can access education funding in a transparent and efficient way.
NELFUND also stressed that the loan programme is non-discriminatory, benefiting students from all religious and ethnic backgrounds, and helping to promote unity through equal access to learning opportunities.
“No Nigerian should be denied the chance to learn, grow, or contribute to the nation’s progress because of financial challenges,” the statement concluded.
