NELFUND Hits Major Milestone with N10bn Disbursed in Student Loans

The Nigerian Education Loan Fund (NELFUND) has successfully disbursed over N10 billion to students since its inception in August 2024, according to Managing Director Akintunde Sawyerr.

Speaking at a meeting with the House of Representatives Committee on Student Loans, Sawyerr emphasized the fund’s commitment to inclusivity, addressing concerns about potential discrimination against applicants.

Sawyerr reported that NELFUND has received more than 350,000 applications, with an average of over 1,000 new submissions daily. “We are making special provisions for students living with disabilities and focusing on breaking down barriers to girl-child education,” he stated.

He added, “Failing to provide access to education for our youth threatens Nigeria’s stability and future.”

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

The fund aims to disburse a total of N90 billion, marking a significant intervention in the education sector under President Bola Tinubu’s administration.

READ ALSO: IYC Urges FG to Increase Budget For Presidential Amnesty Programme

Describing the initiative as a “unique palliative,” Sawyerr likened it to historical policies that shaped Nigeria’s educational landscape, such as the free education program introduced by Chief Obafemi Awolowo.

Committee Chairman Gboyega Isiaka urged NELFUND’s management to adopt a proactive approach, asking for clear projections on the agency’s future trajectory.

“We want to know where NELFUND will be in three to five years,” he said, highlighting the importance of strategic planning in achieving the fund’s goals.