The Nigerian Education Loan Fund (NELFUND) has achieved a major milestone, recording over one million applications on its student loan portal since its official launch on May 24, 2024.

This development marks a significant impact of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on making higher education more accessible and restoring trust in government-led empowerment programmes.

Since the beginning of the initiative, NELFUND has disbursed over N116 billion in student loans, covering both tuition fees and upkeep allowances for students across universities, polytechnics, and colleges of education nationwide. This achievement reinforces the administration’s dedication to human capital development and inclusive national growth.

Speaking on the accomplishment, NELFUND Managing Director and Chief Executive, Mr. Akintunde Sawyerr, called it a defining moment for Nigeria’s education sector.

“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 said.

The Fund assured that it remains committed to improving its processes, ensuring that every eligible Nigerian student, regardless of background or location, can access funding with transparency and efficiency.

With this milestone, NELFUND continues to stand out as a successful example of effective government intervention in education financing. The programme demonstrates that when leadership, accountability, and vision come together, meaningful progress can be achieved.

NELFUND is open to all Nigerians, irrespective of religion or ethnicity, serving Christians, Muslims, and others equally. By offering equal access to education opportunities, it strengthens unity and national development. The Fund remains focused on ensuring no Nigerian is denied a chance to learn, grow, or contribute to the country’s progress due to financial hardship.