The Nigerian Education Loan Fund (NELFUND) marks one year since it launch in Abuja today 24th May 2025. Nelfund was established in 2024 as part of the Federal Government ambition to of making tertiary education accessible to every Nigerian amids high cost of living.
In a press release published on Nelfund official X/Twitter handle, stating, since the launch of its groundbreaking student loan portal on May 24, 2024, the milestone has reflect great commitment by the Federal Government to empower Nigerian students by removing financial barriers to higher education.
It added that in just twelve months since launch, NELFUND has transformed access to education financing with over:
- 600,000 students registered and
- Over 550,000 successful loan applications
- N56.85 billion disbursed to cover tuition fees and and provide upkeep allowances.
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Speaking on the anniversary, Mr. Akintunde Sawyerr, Managing Director/CE of NELFUND, said, “One year ago, we launched a promise to Nigerian students, Today, we’re proud to be delivering on that promise. NELFUND is more than a loan scheme, it’s a bridge to opportunity, equity and national transformation.”
Backed by the vision of President Bola Ahmed Tinubu’s Renewed Hope Agenda, the NELFUND initiative has quickly become one of the most impactful student focused interventions in Nigeria’s recent history.
The NELFUND Vision
So far NELFUND has collaborated with institutions, state governments and student bodies, he added that the Fund remains committed to deepening its reach and improving the student loan experience.
In a concluding statement, the Fund promise it will remain steadfast in its mission to ensure no Nigerian student is denied education because of financial constraints.
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