The Nigerian Education Loan Fund (NELFUND) says applications on its official portal for the student loan scheme has crossed the one million mark.
In a statement on Sunday to announce the milestone, Director, Strategic Communications, Oseyemi Oluwatuyi, said the feat comes a little over a year since its official launch on May 24, 2025.
Elaborating further on the achievement, Oseyemi revealed that over N116bn in student loans, covering both institutional fees and upkeep allowances had so far been disbursed to students across universities, polytechnics, and colleges of education across the country in that period of time.
According to her, this was reflective of the administration's "unwavering commitment to human capital development and inclusive growth."
She also noted that the success of NELFUND so far visibly reflects the impact of the President Bola Tinubu-led administration, which is bringing back the faith in government with its socio empowerment programmes under the Renewed Hope Agenda.
Managing Director/CE of NELFUND, Akintunde Sawyerr also described it as a "defining moment in Nigeria's journey towards equitable education funding."
“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.
“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” he said.
Reaffirming the Fund's commitment to continuous process improvement, he further stressed that NELFUND's mission is to ensure that financial limitations would not deny any Nigerian the chance to learn, grow, or contribute to national progress.
"NELFUND is a non-discriminatory initiative that benefits Nigerians of all faiths and tribe - Christians and Muslims, and others across diverse ethnic backgrounds. It helps unify the country by providing equal access to education and fostering shared progress.
"As the Fund continues to expand its reach and impact, it remains steadfast in its mission to ensure that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations," he said.
