The Nigerian Education Loan Fund (NELFUND) has announced that its student loan scheme has surpassed one million applications on its official portal.
This milestone is indicative of one of the highest levels of participation in a government-backed social initiative since the commencement of the President Tinubu administration.
In a statement released on Sunday by the Director of Strategic Communications, Oseyemi Oluwatuyi, it was highlighted that this achievement has occurred less than one year following the program's launch on May 24, 2024. NELFUND characterized this development as evidence of the initiative's growing national traction and public confidence.
According to the NELFUND team, over ₦116 billion has been disbursed to students across various universities, polytechnics, and colleges of education in Nigeria, encompassing both institutional fees and living allowances.
The Managing Director of NELFUND, Akintunde Sawyerr, stated that this progress reflects the impact of President Bola Tinubu’s Renewed Hope policy on enhancing access to higher education. “Surpassing the one million mark signifies more than just numerical data; it embodies renewed hope for a generation of Nigerians who aspire to overcome financial obstacles to education. It serves as a testament to visionary leadership, effective policy design, and the collaborative efforts of all stakeholders committed to this transformational agenda,” he remarked.
NELFUND reaffirmed its dedication to ongoing process improvements to ensure that every qualified Nigerian student, irrespective of their background or geographical location, can attain educational funding with transparency, efficiency, and dignity. NELFUND emphasized that the program is non-discriminatory, benefiting individuals across diverse religious and ethnic backgrounds, and contributing to the unification of national aspirations through equitable learning opportunities.
NELFUND remains steadfast in its mission to guarantee that no Nigerian is deprived of the opportunity to learn, develop, or contribute to national progress due to financial constraints.