NELFUND Records One Million Applications Since Launch in 2024

By Hajara Abdullahi

The Nigerian Education Loan Fund (NELFUND) has achieved a historic milestone, recording one million applications on its student loan portal since its official launch on May 24, 2024.

In a statement signed and posted on its official X handle on Sunday, the Director of Strategic Communications, Mrs. Oseyemi Oluwatoyi, said:

“Since its inception, NELFUND has disbursed over ₦1.6 billion in loans, covering both institutional fees and upkeep allowances for students across universities, polytechnics, and colleges of education nationwide. This milestone reflects the administration’s unwavering commitment to human capital development and inclusive growth.”

Speaking on the development, NELFUND Managing Director, Mr. Akintunde Sawyerr, described it as “a defining moment in Nigeria’s journey towards equitable education financing.”

“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 transformational agenda,” Sawyerr stated.

Oluwatoyi added that this remarkable achievement underscores the far-reaching impact of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which is restoring faith in government-led social empowerment programmes and making higher education more accessible to all Nigerians.

The statement further noted that:

“With this milestone, NELFUND stands as a shining example of a government initiative that is working — authentic, effective, and truly transformative. The programme demonstrates that when leadership, vision, and accountability align, lasting change is possible.”

It concluded that NELFUND is a non-discriminatory initiative benefiting Nigerians of all faiths and tribes — Christians, Muslims, and others — across diverse ethnic backgrounds, thereby helping to unify the country by providing equal access to education and fostering shared progress.

“As the Fund continues to expand its reach and impact, it remains steadfast in its mission to ensure that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations,” the statement added.