NELFUND Reports Record One Million Student Loan Applications
The Nigerian Education Loan Fund (NELFUND) has announced that applications for its student loan scheme have surpassed one million, less than a year after the programme’s launch on May 24, 2024.
According to the Director of Strategic Communications, Oseyemi Oluwatuyi, the milestone represents one of the largest uptakes of any government-backed social intervention under President Bola Tinubu’s administration.
“This achievement is a clear indication that the programme is gaining national traction and public confidence,” Oluwatuyi said in a statement on Sunday.
₦116 Billion Disbursed to Students Nationwide
NELFUND revealed that more than ₦116 billion has already been disbursed to students across universities, polytechnics, and colleges of education in Nigeria.
The funds cover both institutional charges and personal upkeep allowances, ensuring that students receive comprehensive financial support throughout their academic journey.
A Milestone for Tinubu’s Renewed Hope Agenda
The Managing Director of NELFUND, Akintunde Sawyerr, described the milestone as a reflection of President Tinubu’s Renewed Hope agenda, aimed at expanding access to higher education and breaking financial barriers for Nigerian students.
“Crossing the one-million mark represents more than data; it symbolises renewed hope for a generation of Nigerians determined to rise above financial barriers to education,” Sawyerr stated.
“It is a testament to visionary leadership, sound policy design, and the collective effort of all stakeholders driving this transformative agenda.”
Ensuring Transparency and Equal Opportunity
NELFUND reaffirmed its commitment to transparency, efficiency, and inclusivity in the implementation of the loan scheme.
The agency stated that every qualified Nigerian student — regardless of religion, ethnicity, or background — will have equal access to educational funding.
“NELFUND remains focused on ensuring that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations,” the statement read.
A Unifying Social Investment for Nigeria’s Future
The fund emphasised that the student loan initiative is not just about financing education but also about promoting national unity and economic inclusion.
By providing fair access to quality education, NELFUND hopes to empower a new generation of Nigerians capable of driving innovation, productivity, and national development.
About Author
Discover more from BillionBill
Subscribe to get the latest posts sent to your email.
