One Year On: NELFUND marks major milestone in student loan scheme
Uji A. Iliyasu, Abuja
In a landmark moment for Nigeria’s education sector, the Nigerian Education Loan Fund (NELFUND) is celebrating one year since the launch of its student loan portal; a bold initiative aimed at expanding access to higher education across the country.
Since going live on 24 May 2024, the portal has recorded impressive results:
over 600,000 students registered more than 550,000 successful loan applications.₦56.85 billion has been disbursed to support tuition and upkeep.
The initiative, rooted in President Bola Ahmed Tinubu’s Renewed Hope Agenda, is widely considered one of the most transformative student-focused policies in recent Nigerian history.
NELFUND’s Managing Director/Chief Executive, Mr. Akintunde Sawyerr, reflected on the progress,“One year ago, we launched a promise to Nigerian students. Today, we’re proud to be delivering on that promise. NELFUND is more than a loan scheme, it’s a bridge to opportunity, equity, and national transformation.”
Families nationwide have welcomed the programme, which has eased financial burdens and enabled thousands of students to pursue tertiary education without interruption.
The Fund has also worked closely with universities, state governments, and student unions to fine-tune its operations and ensure wider reach. According to official statement, efforts are ongoing to improve user experience and expand the programme’s coverage.
As NELFUND enters its second year, it remains focused on one core mission: ensuring that no Nigerian is denied the opportunity to learn due to lack of financial means.