The Nigerian Education Loan Fund (NELFUND) has revealed that over one million students have applied for the federal government’s student loan programme, marking one of the most significant responses to a social welfare initiative under President Bola Tinubu’s administration.
The agency’s Director of Strategic Communications, Oseyemi Oluwatuyi, disclosed the development in a statement on Sunday, noting that the milestone comes less than a year after the scheme officially commenced on May 24, 2024.
Oluwatuyi said the surge in applications demonstrates growing confidence in the initiative and shows that the programme is gaining widespread acceptance across the country.
According to NELFUND, more than ₦116 billion has already been released to beneficiaries in universities, polytechnics, and colleges of education nationwide. The funds cover school fees as well as maintenance allowances for eligible students.
The Managing Director of the fund, Akintunde Sawyerr, described the achievement as a major step toward improving access to higher education and fulfilling President Tinubu’s Renewed Hope agenda.
“Surpassing the one-million-application mark is not just a statistic — it represents renewed hope for Nigerian youths striving to pursue education without financial barriers,” Sawyerr said. “This progress highlights solid policy planning and the collective effort of all stakeholders committed to transforming Nigeria’s education landscape.”
NELFUND reaffirmed its resolve to maintain transparent and efficient service delivery, ensuring that qualified students from all parts of the country can benefit fairly.
The agency also emphasized that the student loan scheme is open to all Nigerians, regardless of ethnic or religious background, helping to promote unity by providing equal educational opportunities.
“No Nigerian should be denied the chance to study, develop, or contribute to national growth due to financial difficulty,” the statement added.
