The Nigerian Education Loan Fund (NELFUND) has announced that applications for the government’s student loan scheme have surpassed one million, less than a year after its official launch.
According to a statement released on Sunday, November 2, by Oseyemi Oluwatuyi, NELFUND’s Director of Strategic Communications, the milestone demonstrates the growing reach of the programme, which was inaugurated on May 24, 2024.
The agency revealed that more than ₦116 billion has so far been disbursed to students in universities, polytechnics, and colleges of education across the country, covering both institutional fees and upkeep allowances.
Managing Director of NELFUND, Akintunde Sawyerr, described it as a major validation of President Bola Tinubu’s Renewed Hope agenda, which aims to expand access to higher education and empower Nigerian youth through inclusive financial support.
