The Nigerian Education Loan Fund, NELFUND, says about 1,361,011 applications have been received while 864,798 students have so far benefited from the loan scheme. The Chief Executive Officer and the Managing Director of the Fund, Akintunde Sawyerr, made the disclosure at a news conference in Abuja.

The Chief Executive Officer and MD of NELFUND, Akintunde Sawyerr said the initiative remains a direct outcome of the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, and an agenda that places people, opportunity, and access at the centre of governance.

He revealed that the loan scheme reflects Mr. President’s firm belief that no Nigerian child should be denied education because of financial limitations. Sawyerr added that over the last year, NELFUND has also undertaken extensive sensitization and engagement across tertiary institutions nationwide...working directly with students, school authorities, and stakeholders to drive awareness, understanding, and access to the scheme.

On NELFUND challenges, the Managing Director and Chief Executive of the scheme said following the conclusion of the 2024/2025 academic session, the team carried out a routine reconciliation of student upkeep payments which revealed that 11,685 students currently have outstanding upkeep payments totaling ₦927.98 million.

He declared that NELFUND is more than a financial intervention but a key pillar of the Renewed Hope Agenda, aimed at expanding access to higher education, strengthening human capital, and securing Nigeria’s future.