ABUJA, Nigeria (VOICE OF NAIJA)-The Nigerian Education Loan Fund has revealed that the student loan programme has now surpassed one million applications on its official portal, making it one of the largest participation levels recorded in any government-backed social initiative under the Tinubu administration.
In a statement on Sunday issued by the Director of Strategic Communications, Oseyemi Oluwatuyi, Nigerian Education Loan Fund, the agency noted that this milestone is happening less than a year after the scheme was launched on 24 May 2024, describing it as evidence that the student loan scheme is gaining strong nationwide acceptance and public confidence.
According to the NELFUND team, more than N116bn has already been released to students in universities, polytechnics, and colleges of education across the country, covering school-related fees as well as living allowances.
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The Managing Director of NELFUND, Akintunde Sawyerr, said the progress reflects the impact of President Bola Tinubu’s Renewed Hope policy agenda on improving access to tertiary education.
“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,” he said.
NELFUND emphasised that it remains committed to ongoing system enhancements to ensure “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”
The Fund described the initiative as fair and non-selective explaining that it supports Nigerians across various religions and ethnic identities and is strengthening national unity through equal educational access.
NELFUND added that it is dedicated to ensuring that “no Nigerian is denied the opportunity to learn, grow or contribute to national progress because of financial limitations.”