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The Nigerian Education Loan Fund, NELFUND, says the student loan scheme has reached one million applications on its official portal.
The Director, Strategic Communications of NELFUND, Oseyemi Oluwatuyi, disclosed this in a statement in Sunday.
The statement said the milestone comes barely one year after the programme’s launch on 24 May 2024, describing it as proof that the student loan initiative is gaining strong national traction and public trust.
The NELFUND team stated that more than N116bn has so far been disbursed to students across universities, polytechnics and colleges of education in Nigeria, covering institutional charges and upkeep allowances.
According to the Managing Director of the Fund, Akintunde Sawyerr, the development reflects the impact of the President Bola Tinubu Renewed Hope policy drive on access to higher education.
“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.
The Fund reiterated its commitment to continuous process improvement to make sure “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”
It described the programme as non-discriminatory, saying it benefits Nigerians across religions and ethnic backgrounds and is helping to unify national aspirations through equal learning opportunities.
