The Nigerian Education Loan Fund (NELFUND) has achieved a historic milestone by surpassing one million applications on its student loan portal since its launch. This remarkable progress reflects the growing trust of Nigerian students in the government’s vision to remove financial barriers to higher education.

This achievement aligns with President Bola Ahmed Tinubu’s , which focuses on empowering citizens through education, skill development, and financial inclusion. The milestone demonstrates the federal government’s commitment to building a knowledge-driven economy by ensuring that every qualified student can access education, regardless of financial background.

Since the scheme began, NELFUND has disbursed over ₦16 billion in student loans, covering both tuition fees and upkeep allowances for students in universities, polytechnics, and colleges of education nationwide. The initiative’s transparent digital system ensures that funds go directly to institutions and students, minimizing bureaucratic delays and enhancing accountability.

According to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, the milestone represents renewed hope for Nigerian youth striving to overcome financial constraints in pursuit of their academic dreams. He emphasized that the Fund’s success is a result of collaboration between government agencies, educational institutions, and students, all working toward inclusive growth and human capital development.

NELFUND continues to refine its digital and administrative systems to make the application and disbursement process faster and more efficient. The Fund’s operations stand out for their transparency, simplicity, and focus on student welfare. It has become a reliable model for social empowerment and national development.

As part of its inclusive approach, NELFUND serves Nigerians of all backgrounds and faiths, ensuring that every eligible student can access interest-free loans to pursue quality education. The Fund’s commitment extends beyond financial aid - it represents a step toward reducing inequality, improving literacy, and supporting Nigeria’s long-term economic development through education.

In essence, NELFUND’s success story is a testament to the transformative power of equitable education financing. By breaking down financial barriers, the Fund is helping to build a future where education becomes a right, not a privilege, for every Nigerian student.