In what is described as one of the one of the biggest uptake levels for a government-backed social scheme since the start of President Bola Ahmed Tinubu administration, the Nigerian Education Loan Fund(NELFUND) on Sunday announced that the student loan scheme has crossed one million applications on its official portal
The Director, Strategic Communications, Oseyemi Oluwatuyi, Nigerian Education Loan Fund, made this disclosure through a statement issued on Sunday, explained that the milestone comes barely one year after the programme’s launch on 24 May 2024.
The Fund described the development as proof that the student loan initiative is gaining strong national traction and public trust.
According to NELFUND team, over ₦116bn has so far been disbursed to students across universities, polytechnics and colleges of education in Nigeria, covering institutional charges and upkeep allowances.
Oluwatuyi quoted the Managing Director of NELFUND, Akintunde Sawyerr, in the statement to have 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.
The Fund 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.
Oluwatuyi added in the statement that NELFUND remains focused on ensuring “no Nigerian is denied the opportunity to learn, grow or contribute to national progress because of financial limitations.”
