NELFUND reaffirms commitment to inclusive student loan access
By Uji A.Iliyasu
Abuja
The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has reaffirmed the Fund’s commitment to providing inclusive access to student loans for all students admitted through the Joint Admissions and Matriculation Board (JAMB). Sawyerr made this assurance on Tuesday in Abuja during a Stakeholders Engagement Session and Technical Workshop focused on system automation and the loan application process.
The clarification followed concerns from stakeholders in technical institutions, especially those offering two-phase diploma programmes, regarding students’ challenges in accessing loans within their academic timelines. While acknowledging these challenges, Sawyerr emphasized the Fund’s dedication to resolving the issues and ensuring timely loan access for technical students.
“For too long, many technical students have faced steep financial barriers. Some drop out, others never apply. This is the gap we’re here to close,” Sawyerr said. He added that while some initial issues were expected, the system was designed to evolve through stakeholder feedback and technological improvements.
The workshop brought together representatives from polytechnics, monotechnics, and technical institutes to discuss the automation of NELFUND’s loan processing system. Sawyerr described technical institutions as “the engine rooms of innovation and expertise” and called the workshop a critical step in closing education financing gaps.
Sawyerr emphasized that NELFUND’s mission goes beyond loan disbursement, aiming to provide equitable opportunities for all students. “We want access without stress, transparency, and purposeful partnerships,” he stated. He also praised the National Board for Technical Education (NBTE) for its leadership in the sector and called for ongoing collaboration in aligning institutional systems with NELFUND processes.
At the core of NELFUND’s operations, Sawyerr said, is the student — a young Nigerian with dreams and ambition. He reminded students that the loans are not handouts but strategic investments in their future.
Providing updates on application data, he said NELFUND had received around 570,000 registrations, with over 515,000 completed applications. He noted that the portal processes an average of 1,800 applications daily, and despite the speed, the Fund remains committed to due diligence and maintaining standards.
Also speaking, NELFUND’s Executive Director of Operations, Mr. Iyal Mustapha, urged institutions to prioritize data accuracy, timely verification, and communication with students. He explained the Fund’s three-fold mission: easing students’ financial burden, expanding access to education, and ensuring timely disbursement of institutional charges. He clarified that upkeep allowances are paid directly to students’ bank accounts, while tuition fees are sent to institutions after verification.