Otamere Gladness 
ABUJA, Nigeria – The Nigerian Education Loan Fund (NELFUND) has announced that more than one million Nigerians have applied for student loans through its online portal since the scheme formally launched on May 24, 2024 — marking a historic moment in the country’s widening access to higher education financing.
The Fund also confirmed that over ₦116 billion has been disbursed so far to eligible students in public universities, polytechnics and colleges of education, covering both tuition fees and living allowances.
NELFUND’s Managing Director and Chief Executive, Mr. Akintunde Sawyerr, in a statement on Sunday, described the milestone as a powerful reflection of renewed public confidence in government-backed social empowerment programmes.
“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,” Sawyerr said. “It is a testament to visionary leadership, sound policy design, and the collective efforts of stakeholders driving this transformative agenda.”
The Fund reaffirmed that the scheme is open to all students regardless of tribe, religion, or location, noting that equal access to education strengthens national unity and shared progress.
According to the statement, continuous improvements are underway to streamline processing, enhance transparency and ensure that every qualified applicant receives support with dignity and fairness.
The initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises human capital development as a pathway to economic growth and national stability.
About the Author
Hussaini Ibrahim 
Chukwu Obinna 