As it marks its first anniversary, the Nigerian Education Loan Fund (NELFUND) has disbursed more than ₦56.85 billion in interest-free loans to students in public tertiary institutions across Nigeria since its launch.
In a statement, the Fund’s Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, revealed that more than 550,000 successful applicants benefited from the loan scheme, designed to eliminate financial barriers to higher education.
1 year. Over ₦56.85billion disbursed.
More than 550,000 successful loan applications. Access to education is no longer a dream, it’s a reality.#NELFUNDAt1 #StudentLoans #RenewedHope pic.twitter.com/9R9zeWS7Fu— NELFUND (@NELFUND) May 24, 2025
“The Nigerian Education Loan Fund (NELFUND) proudly marks one year since the launch of its student loan portal on 24 May 2024,” she said. “This milestone underscores the federal government’s resolve to support Nigerian students by removing financial obstacles to higher education.”
Oluwatuyi highlighted that over 600,000 students registered within the year, with ₦56.85 billion disbursed to cover tuition fees and upkeep allowances. She described the initiative as a testament to effective policy implementation, bringing relief to families and creating pathways for academic and professional development nationwide.
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Marking the anniversary, NELFUND’s Managing Director, Mr Akintunde Sawyerr, expressed pride in fulfilling the fund’s promise to Nigerian students.
“One year ago, we made a commitment. Today, we are proud to be delivering on that promise. NELFUND is not just a loan scheme — it’s a bridge to opportunity, equity, and national transformation,” Sawyerr said.
He credited the initiative’s success to President Bola Ahmed Tinubu’s Renewed Hope Agenda, noting that NELFUND has quickly become one of the most impactful student-focused programmes in Nigeria’s recent history.
Sawyerr further emphasised the fund’s ongoing collaboration with tertiary institutions, state governments, and student bodies to enhance the programme and ensure broader access.
Looking ahead, he reaffirmed NELFUND’s mission to guarantee that no Nigerian student is denied access to education due to financial challenges.
