No fewer than 500,000 students have applied for loans through the Nigeria Education Loan Fund (NELFUND) portal, marking a significant milestone in the agency’s first year of operation.
In a statement issued by the Director of Corporate Communications, Oseyemi Oluwatuyi, NELFUND described the development as a testament to the growing demand for accessible student financing in Nigeria.
The fund, which was established to provide interest-free loans to students in tertiary institutions, said the achievement within just 11 months of its operation highlights the nationwide need for affordable education funding and reflects the public’s confidence in the scheme.
“This is more than just a number; it’s a signal of hope for families across Nigeria. We are witnessing a nationwide demand for the opportunity, and NELFUND is proud to be at the heart of this transformation,” said the Managing Director of NELFUND, Mr. Akintunde Sawyerr.
The agency reaffirmed its commitment to maintaining transparency, accessibility, and efficiency throughout the application and disbursement process, while also calling on stakeholders to continue supporting the vision of equitable education for all Nigerians.
The fund said it would continue working to bridge financial gaps in tertiary education and ensure that no Nigerian student is denied access to higher education due to financial constraints.
