The Nigerian Education Loan Fund (NELFUND) has crossed a significant milestone, recording over one million student loan applications since its launch on May 24, 2024. The announcement was made on Sunday by the fund’s management, highlighting the scheme’s growing impact on access to tertiary education in Nigeria.
(Source: TVC News)
Key Highlights
As of November 2, 2025, 1,004,276 applications have been submitted to the NELFUND portal.
(Source: The Whistler)The fund has disbursed over ₦116 billion in loans covering both tuition and upkeep allowances.
(Source: Tribune Online)The milestone is part of the federal government’s “Renewed Hope Agenda” to empower youth and expand access to higher education.
Significance
NELFUND’s Managing Director, Akintunde Sawyerr, called the achievement “a defining moment in Nigeria’s journey toward equitable education financing.” The fund reaffirmed its commitment to transparent and efficient access for all eligible students across the country.
(Source: The Whistler)
The surge in applications underscores strong demand for financial support that covers not only tuition but also living costs for students, particularly those from low‑income backgrounds.
Challenges Ahead
The fund faces pressure to ensure timely disbursement and proper loan administration as applications continue to grow.
Monitoring repayment compliance, particularly after students complete the NYSC programme, remains a priority.
Expansion to polytechnics and colleges of education nationwide is essential to maintain equitable access.
