Education Loans: 1m Applications Received, N116m Disbursed

Education loans application under the Nigerian Education Loan Fund, NELFUND, reached one million last year, with more than N116 billion disbursed.

The amount covers both tuition and upkeep support to beneficiaries across universities, polytechnics and colleges of education nationwide.

These were announced in a statement by NELFUND’s Director, Strategic Communications, Mrs. Oseyemi Oluwatuyi, yesterday.

Describing it as a milestone, she said it marked “a significant step in President Bola Ahmed Tinubu’s Renewed Hope Agenda, which is reshaping access to higher education and strengthening public trust in government-led empowerment programmes.”

The education loans support also underscores the federal government’s deep commitment to human capital development and inclusive national growth, she stated.

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“Crossing the one-million mark represents more than data, it signifies renewed hope for a generation of Nigerians determined to rise above financial barriers to education”, NELFUND’s Managing Director/Chief Executive, Mr. Akintunde Sawyerr, stated, adding:

“It’s proof that sound leadership and effective policy design can deliver life-changing results.”

The Fund also reaffirmed its pledge to strengthen transparency, efficiency and accessibility in its operations, ensuring that every qualified Nigerian, regardless of background or location, could access educational funding with ease and dignity.

The statement added that beyond providing financial support, that NELFUND promotes national unity by serving Nigerians of all faiths, ethnicity and regions, creating a shared pathway to opportunity and progress.