The Nigerian Education Loan Fund (NELFUND) disclosed that it has recorded remarkable improvement in the number of undergraduates in tertiary institutions in the South-East and South-South geo-political zones applying for the interest-free loan.
It attributed the positive development to increased awareness and sensitisation roadmap to tertiary institutions by NELFUND teams across the country, while further encouraging students that have not applied for the loan, especially those from the South-East and South-South regions, to seize the opportunity to fund their education without stress through the student loan scheme.
Speaking on Thursday, 17th July 2025, at a maiden hybrid media engagement held in Abuja with journalists in Lagos connected virtually, Managing Director/Chief Executive of NELFUND, Mr. Akintunde Sawyerr, restated the commitment of the Federal Government under President Bola Ahmed Tinubu to support students from all regions of Nigeria in their education.
He disclosed that since launch on 24th May, 2024, NELFUND has disbursed a total sum of over N77 billion to cover tuition fees and upkeep allowances for 396,252 students in 210 tertiary institutions across Nigeria. The breakdown of the disbursed funds includes over N41.7 billion as paid institutional fees and over N35.3 billion as upkeep allowance. In addition, loan applications have seen significant increase with 675,212 registrants out of which 645,692 students have successfully applied.
Behind each of these numbers are real people, young Nigerians whose dreams were once delayed or denied by circumstance, but who now carry a renewed sense of possibility. I have personally received letters, messages, and stories from students and parents expressing their gratitude, their relief, and perhaps most movingly their renewed confidence in their country, Mr. Sawyerr enthused.
The NELFUND boss further stated in line with the Federal Government’s renewed focus on Technical and Vocational Education and Training (TVET), the agency was collaborating with the Federal Ministry of Education, National Board for Technical Education (NBTE) and National Board for Business and Technical Education (NBBTE) to ensure the successful implementation of the newly-launched TVET programme.
According to him, the synergy among the relevant agencies would also enable NELFUND to come up with some skill programmes as part of the agency’s contribution to efforts by the government to accelerate the training of technical and vocational personnel needed to foster national growth and development.
We expanded our framework to include students in technical and vocational training institutions, aligning with our national employment and skills development goals, he stated.
The Executive Director (Operations) at NELFUND, Mustapha Iyal, while providing further details about the skill sets programme, explained: At this point we are still working with the NBTE for certification and NABTEB for centre accreditation. After all these are done, we will provide more information about these skill sets. Basically, NELFUND after the implementation will come out with some skill programmes, which will support the TVET programme.
He, however, clarified that NELFUND’s skill sets programme will follow the same loan scheme financing model which is flexible and repayable two years after post-NYSC programme, reiterating that it is different from TVET grant, which is directly handled by the education ministry.
Explaining further, Mr. Iyal said: NELFUND is a loan while the TVET programme is a grant. So basically we decided at NELFUND that we are going to harmonise with the Ministry of Education in a way that people will not misunderstand the grant and the loan models.
Mr. Sawyerr reiterated that the student loan scheme, which presidential formal launch was on the 17th of July last year, underscored President Tinubu’s passion to make access to quality education the inalienable right of every Nigerian child and the unwavering commitment of the administration to youth empowerment.
According to him, what we are building is not just a fund; it is a foundation for the future; a Nigeria where no child is denied education simply because of the accident of birth or the limitations of their parents’ income.
Earlier in his presentation titled, ‘Unlocking Education Opportunities’, Mr. Iyal stated that the benefits of the loan scheme to students and parents include financial access to education, regardless of income level; improved academic performance due to reduced stress; focus on studies instead of juggling multiple jobs; and pathway to upward mobility and a better future.
He further disclosed that the loan initiative is also beneficial to tertiary institutions, including guaranteed and timely tuition payments from NELFUND to institutions of the beneficiaries; higher student enrollment and retention; better financial planning and investment opportunities; and enhanced institutional reputation and equity promotion.
Mr. Iyal clarified that among the reasons some applicants reportedly faced challenges while applying for the loan include mismatch or unmatched data, incomplete documents, non-completion of the registration/application processes, as well as delay and non-verification from the institutions.
In his presentation on; “Student Loan Application System (SLAS) Institutional Module Guide’’, the Head of ICT at NELFUND, Mr. Olawale Ogunleye, provided the comprehensive walk-through of the institutional module processes, and urged students applying for the loan and the tertiary institutions to ensure they painstakingly supplied all the required fields while filling the forms online.
For further inquiries or information, please contact us via email at info@nelf.gov.ng or rech out through our official social media platforms:
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Website: www.nelf.gov.ng
Signed,
Mrs. Oseyemi Oluwatuyi
Director, Strategic Communications
