The Nigerian Education Loan Fund (NELFUND) says the federal government’s student loan scheme has recorded over one million applications on its official portal — representing one of the fastest uptakes for any social intervention programme introduced under the Tinubu administration.
In a statement issued on Sunday, Director of Strategic Communications, Oseyemi Oluwatuyi, noted that the landmark achievement comes less than a year after the scheme was launched on 24 May 2024. He described the rapid adoption as a strong indication of increasing public confidence in the initiative.
NELFUND disclosed that more than ₦116 billion has already been released to beneficiaries in universities, polytechnics and colleges of education nationwide. The funds cover both tuition-related fees and student upkeep allowances.
Managing Director of NELFUND, Akintunde Sawyerr, said the milestone demonstrates the positive impact of President Bola Tinubu’s Renewed Hope agenda in expanding access to higher education for Nigerian youths.
