One Year of Renewed Hope: Nelfund Celebrates Landmark Progress In Expanding Access To Higher Education

The Nigerian Education Loan Fund (NELFUND) proudly marks one year since the launch of its groundbreaking student loan portal on May 24, 2024.

This milestone reflects a bold commitment by the Federal Government to empower Nigerian students by removing financial barriers to higher education.

In a statement, Nelfund said that it has
transformed access to education financing with over:
• 600,000 registered students and
• Over 550,000 successful loan applications
• ₦56.85 billion disbursed to cover tuition fees and provide upkeep allowances in just twelve months.

The agency noted that the achievement demonstrates the power of purposeful policy backed by strong execution, and reiterated that the student loan programme has brought relief to families, restored hope to students, and created a pathway for academic and professional success across Nigeria.

Speaking on the anniversary, the Managing Director/CE of NELFUND,Mr. Akintunde Sawyerr, stated that the Fund initiative has quickly become one of the most impactful student focused interventions in the nation’s recent history.

“One year ago, we launched a promise to Nigerian students. Today, we’re proud to be delivering on that promise. NELFUND is more than a loan scheme, it’s a bridge to opportunity, equity, and national transformation.”

Backed by the vision of President Bola Ahmed Tinubu’s Renewed Hope Agenda,
Through continuous collaboration with institutions, state governments, and student bodies, the Fund remains committed to deepening its reach and improving the student loan experience.

As NELFUND looks to the future, it remains steadfast in its mission to ensure that no Nigerian student is denied education because of financial constraints”.