Monday, November 3, 2025 - The Nigerian Education Loan Fund (NELFUND) has said the Federal Government’s student loan scheme has crossed one million applications on its official portal.
The organization said this marked one of the biggest uptake
levels for a government-backed social scheme since the start of President Bola
Ahmed Tinubu’s administration.
A statement yesterday in Abuja by its Director of Strategic
Communications, Oseyemi Oluwatuyi, said the milestone comes barely one year
after the programme’s launch on May 24, 2024.
The statement described the development as proof that the
student loan initiative is gaining strong national traction and public trust.
It stated that over N116 billion has so far been disbursed
to students across universities, polytechnics, and colleges of education in
Nigeria, covering institutional charges and upkeep allowances.
The agency’s Managing Director, Akintunde Sawyerr, said the
development reflected the impact of President Tinubu’s Renewed Hope policy
drive on access to higher education.
The statement said: “Crossing the one-million mark
represents more than data; it represents renewed hope for a generation of
Nigerians determined to rise above financial barriers to education.
“It is a testament to visionary leadership, sound policy
design, and the collective efforts of all stakeholders driving this
transformative agenda.”
NELFUND reiterated that it is committed to continuous
process improvement to make sure “every qualified Nigerian student, regardless
of background or location, can access education funding with transparency,
efficiency, and dignity”.
The agency described the programme as non-discriminatory,
stressing that it benefits Nigerians across religions and ethnic backgrounds,
and helps to unify national aspirations through equal learning opportunities.
NELFUND said it remained focused on ensuring “no Nigerian is
denied the opportunity to learn, grow or contribute to national progress
because of financial limitations”.
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