The Nigerian Education Loan Fund (NELFUND) has confirmed that 396,262 students across tertiary institutions nationwide have benefited from its loan scheme as of July 2025, marking a major milestone in its first year of operation.
The Managing Director and Chief Executive of NELFUND, Mr Akintude Sawyerr who disclosed this while addressing journalists as part of activities commemorating the first anniversary of the Fund, added that 645,692 loan applications have been
received from eligible students with a total of 73.2 billion naira disbursed to successful applicants.
Sawyerr commended President Tinubu for his commitment to educational reform and for facilitating the Students Loan Scheme through swift passage in the National Assembly.
Despite the success story as reeled out, the NELFUND boss highlighted several challenges impeding the student loan application process.
Meanwhile, the NELFUND Executive Director of Operations , Mustapha Iyah
spoke on the funds projection for the coming years while emphasising the need for continued reforms.
NELFUND was established by president Tinubu with mandate to provide interest free loans to students in tertiary institutions, helping to reduce financial barriers to education and promote human capital development across Nigeria.
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