The Nigerian Education Loan Fund has announced that the student loan scheme has recorded one million applications on its official portal, describing it as a significant stride in the renewed hope agenda since the start of President Bola Ahmed Tinubu’s administration.
According to a Sunday statement signed by the Director, Strategic Communications, Oseyemi Oluwatuyi, Nigerian Education Loan Fund, it stated that the milestone comes barely one year after the programme’s launch on 24 May 2024, describing it as proof that the student loan initiative is gaining strong national traction and public trust.
The statement further disclosed that the NELFUND team has disbured over ₦116bn to students across universities, polytechnics and colleges of education in Nigeria, covering institutional charges and upkeep allowances.
The Managing Director of NELFUND, Akintunde Sawyerr, said the development reflects the impact of the President Bola Tinubu Renewed Hope policy drive on access to higher education.
“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,” he said.
Reiterating its commitment to a free fair process, the scheme stated that “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”
The loan scheme described the programme as non-discriminatory, saying it benefits Nigerians across religions and ethnic backgrounds, and is helping to unify national aspirations through equal learning opportunities.
NELFUND said it remains focused on ensuring “no Nigerian is denied the opportunity to learn, grow or contribute to national progress because of financial limitations.”
