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NELFUND says over one million students apply for government-backed education loans since May 2024.
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₦116 billion disbursed to cover tuition and upkeep for beneficiaries across tertiary institutions.
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Programme remains open to all Nigerians, promoting inclusivity and access to higher education.
The Nigerian Education Loan Fund, (NELFUND) has surpassed a major milestone, recording over one million applications for its student loan programme since its launch on May 24, 2024.
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Since its inception, the scheme has disbursed more than ₦116 billion, covering tuition fees and upkeep allowances for students in universities, polytechnics, and colleges of education nationwide.
NELFUND described the milestone as a demonstration of growing public confidence in the programme, which forms part of President Bola Tinubu’s Renewed Hope Agenda aimed at expanding access to higher education and strengthening human capital development.
Managing Director Akintunde Sawyerr said, “Crossing the one-million mark 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 driving this transformative agenda.”
Sawyerr further emphasised NELFUND’s commitment to improving its processes, ensuring that qualified students, irrespective of background or location, can access loans transparently and efficiently.
The Fund also highlighted that the programme is open to all Nigerians, regardless of religion or ethnicity, aiming to foster inclusiveness and national development by ensuring no student is denied tertiary education due to financial constraints.
Students seeking support are advised to engage through NELFUND’s official website and social media channels for guidance and updates.
