The Nigerian Education Loan Fund (NELFUND) on Sunday announced that it has recorded over one million applications on its student loan portal since its official launch on May 24, 2024.

The Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, described the achievement as “a defining moment in Nigeria’s pursuit of equitable education financing.”

According to Sawyerr, the Fund has so far disbursed over ₦116 billion in student loans, covering both institutional fees and upkeep allowances for students across universities, polytechnics, and colleges of education nationwide.

He said the milestone reflects the Tinubu administration’s commitment to human capital development and inclusive growth, adding that it has helped restore public confidence in government-led social empowerment programmes.

“Crossing the one-million mark represents more than data; it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education. It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” Sawyerr stated.

In a statement signed by NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the Fund reaffirmed its commitment to continuous process improvement and transparent disbursement, ensuring that every qualified Nigerian student can access education funding regardless of background or location.

“With this milestone, NELFUND stands as a shining example of a government initiative that is working, authentic, effective, and truly transformative. The programme demonstrates that when leadership, vision, and accountability align, lasting change is possible,” the statement read in part.

Oluwatuyi further noted that the Fund operates as a non-discriminatory initiative, benefiting Nigerians across all faiths and ethnic backgrounds, Christians, Muslims, and others by promoting equal access to education and fostering national unity and progress.

She added that as the Fund continues to expand its reach and impact, it remains steadfast in its mission to ensure that no Nigerian is denied access to education due to financial constraints.