The Nigerian student loan program has received over one million applications, according to the Nigerian Education Loan Fund (NELFUND). This achievement marks one of the most popular social intervention initiatives under President Bola Tinubu’s administration.
Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications, announced on Sunday that the milestone came less than a year after the program’s launch on May 24, 2024. He said the rapid response proves the plan is earning strong public trust and national support.
NELFUND confirmed that over ₦116 billion has already been disbursed to students across Nigerian universities, polytechnics, and colleges of education. The payments include both maintenance allowances and institutional fees.
Akintunde Sawyerr, Managing Director of NELFUND, said the success shows how well President Tinubu’s Renewed Hope initiative is improving access to higher education.
“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 stated. “It is a testament to visionary leadership, sound policy design, and the collective effort of all stakeholders driving this transformative agenda.”
NELFUND reaffirmed its commitment to ensure “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”
The agency emphasized that the Nigerian student loan program remains inclusive, serving Nigerians of all religions and ethnic groups. It promotes national unity through equal access to education.
“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.
