The Nigerian Education Loan Fund (NELFUND) has announced that it has recorded over one million student loan applications since the official launch of the scheme on May 24, 2024.
It also revealed that it has disbursed over ₦116 billion in student loans, covering both institutional fees and upkeep allowances to students across universities, polytechnics, and colleges of education since inception.
In a statement released on Sunday, Oseyemi Oluwatuyi, Director of Strategic Communications at the Nigerian Education Loan Fund (NELFUND), said the remarkable achievement highlights the broad impact of President BolaTinubu’s Renewed Hope Agenda.
According to the statement, this milestone reflects the administration’s unwavering commitment to human capital development and inclusive growth.
Speaking on the achievement, NELFUNDNELFUND Managing Director/CE, Akintunde Sawyerr, described it as a defining moment in Nigeria’s journey toward equitable education financing.
“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,” Sawyerr stated.
The Fund reaffirmed its commitment to continuous process improvement, ensuring that every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.
“With this milestone, NELFUND stands as a shining example of a government initiative that is working, authentic, effective, and truly transformative. The programme demonstrates that when leadership, vision, and accountability align, lasting change is possible.
“NELFUND is a non-discriminatory initiative that benefits Nigerians of all faiths and tribes—Christians, Muslims, and others across diverse ethnic backgrounds. It helps unify the country by providing equal access to education and fostering shared progress.
“As the Fund continues to expand its reach and impact, it remains steadfast in its mission to ensure that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations,” the statement read.
Portal set for reopening
Last Friday, NELFUND announced an extension of its verification portal for the 2024/2025 student loan application process.
According to Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, the portal will remain accessible from 12:00 a.m. on Sunday, 12 October 2025, until 12:00 a.m. on Tuesday, 14 October 2025.
Mrs. Oluwatuyi explained that the extension is intended to allow all eligible students to be fully captured and verified by their institutions.
“Institutions are strongly advised to make full use of this final opportunity. Failure to complete the verification process within the stipulated period will result in the affected institutions forfeiting participation in the current loan cycle, a situation that will, regrettably, disadvantage their students who are the ultimate beneficiaries of the loan scheme,” she stated.
The director added that, in the interest of transparency, NELFUND will publish the list of institutions that fail to comply with the deadline alongside this notice.
“The Fund reiterates its commitment to fostering equitable access to higher education through the efficient, transparent, and inclusive management of the Nigerian Education Loan Scheme,” Mrs. Oluwatuyi said.
Director, Strategic Communications of NELFUND, Mrs. Oseyemi Oluwatuyi in a statement on Friday said the portal will be accessible from 12:00 a.m. on Sunday, October 12, 2025, to 12:00 a.m. on Tuesday, October 14, 2025.
Mrs. Oseyemi Oluwatuyi explained that the extension was intended to ensure that all eligible students were duly captured and verified by their respective institutions as part of the ongoing 2024/2025 NELFUND loan application process.
