The Nigerian Education Loan Fund (NELFUND) has disclosed that applications for the student loan scheme have surpassed one million, marking one of the largest uptakes for a government-backed social intervention since the beginning of the Tinubu administration.
Penpushing reports that the Director of Strategic Communications, Nigerian Education Loan Fund, Oseyemi Oluwatuyi, made this known in a statement, explaining that the milestone was achieved less than a year after the programme was launched on May 24, 2024.
The Director described it as evidence that the scheme is gaining strong national traction and public trust, adding that over N116billion has so far been disbursed to students across universities, polytechnics, and colleges of education in Nigeria, covering both institutional charges and upkeep allowances.
Penpushing further reports that the Managing Director of the agency, Akintunde Sawyerr, said the milestone reflects the success of President Bola Tinubu’s Renewed Hope agenda in expanding access to higher education.
“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 said. “It is a testament to visionary leadership, sound policy design, and the collective effort of all stakeholders driving this transformative agenda.”
Penpushing also reports that the agency reiterated its commitment to continuous improvement in service delivery, ensuring that every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.
The statement emphasised that the student loan programme is non-discriminatory, benefiting Nigerians across religious and ethnic backgrounds, and helping to promote unity through equal learning opportunities.
“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 added.
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