The Nigerian Education Loan Fund (NELFUND) has provided more than ₦206 billion in loans to students at 270 tertiary institutions nationwide, less than two years after President Bola Ahmed Tinubu launched the programme.
Since the loan portal opened in May 2024, the agency has received 1,751,669 applications. So far, 1,164,222 students have benefited.
NELFUND paid ₦128.84 billion directly to schools for tuition fees. It also gave ₦77.45 billion to students for academic and living expenses. The latest update shows 969 new applications, showing strong public interest and trust in the programme.
NELFUND Managing Director, Akintunde Sawyerr, assured students that financial challenges would not stop them from sitting for exams.
“We designed this scheme to give students interest-free loans on very soft terms. We want to ensure that no student fails to start or finish their studies due to lack of funds,” Sawyerr said.
He praised Delta State University, Abraka, for allowing students with verified loan status to sit for first-semester 2025/2026 exams. “This shows a clear understanding of the scheme’s purpose: no Nigerian student should be denied education because of money,” he added.
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The Tinubu Media Support Group (TMSG) called NELFUND a “major milestone” for Nigeria’s education sector. Chairman Emeka Nwankpa and Secretary Dapo Okubanjo highlighted that over 1.16 million students have benefited so far.
They said the interest-free loans start repayment two years after NYSC and depend on employment. TMSG praised the scheme’s transparency and its wide acceptance across 270 institutions. The group described NELFUND as a key driver of the Renewed Hope agenda, improving access to tertiary education.
TMSG urged Nigerians to support government initiatives that promote growth and skill development. They also expressed confidence that more students would benefit before the end of the administration’s first term.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
