Applicants for the student loan scheme have surpassed one million, according to the Nigerian Education Loan Fund (NELFUND).
The milestone was achieved less than a year after the programme was launched on May 24, 2024, a statement on Sunday by the Director of Strategic Communications, NELFUND, Oseyemi Oluwatuyi, said.
According to the agency, over N116bn has so far been disbursed to students across universities, polytechnics, and colleges of education in Nigeria, covering both institutional charges and upkeep allowances.
The Managing Director of NELFUND, Akintunde Sawyerr, said the milestone reflects the success of President Bola Tinubu’s Renewed Hope agenda in expanding access to higher education.
He described it as evidence that the scheme is gaining strong national traction and public trust.
“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.”
The agency 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 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.”
“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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