By Abdullahi Sarki
The Nigerian Education Loan Fund (NELFUND) has disbursed N303 billion in student loans to beneficiaries across Nigeria, with 850,000 individual applicants benefiting from the scheme since its launch.
The Managing Director of NELFUND, Dr Akintunde Sawyerr, disclosed this on Friday at the Federal University of Lafia, Nasarawa State, during the Renewed Hope Students Leaders Engagement and Digital Acceleration Programme for the North Central Zone.
Sawyerr said the fund had received more than one million loan applications within two years, describing the initiative as a major intervention aimed at ensuring that financial constraints do not prevent Nigerian students from accessing tertiary education.
According to him, President Bola Ahmed Tinubu’s administration introduced the student loan scheme to reduce the financial pressure on parents and students and expand access to education for young Nigerians, particularly those from low-income households.
He said, “The President has recognised this and he said we cannot let young people just be roaming around the street for any reason, not because they don’t want to learn, but because they don’t have money or they don’t come from rich homes. The President said that is not acceptable.”
He added: “He has deployed this programme known as NELFUND to ensure that if you want to get an education and harness your potential to be a great citizen, you must not be prevented from getting that opportunity simply because you come from a poor home.”
The NELFUND chief encouraged students across the North Central region to take advantage of the scheme, stressing that applicants do not need personal connections or influential contacts to access the loans.
He explained that the application process is digital and that prospective beneficiaries can access the required information and submit their applications online if they meet the eligibility criteria.
“The President has made money available. Just make sure you are qualified for it. The system he has allowed us to put in place is digital-based. If you want to get this loan, you don’t need to know anybody. It doesn’t matter who I am; you don’t need to know me, you don’t need to have my number, you don’t need to connect to me.
“You go online and put in specific pieces of information that confirm that you qualify.
“Your name, your BVN, your matriculation number, your JAMB registration number and date of birth. Make sure you are in a school that is approved, a government tertiary institution,” he said.
Sawyerr also commended the Senior Special Assistant to the President on Student Engagement, Comrade Asefon Sunday, for his efforts in facilitating engagement between students and the Federal Government and supporting the implementation of NELFUND’s mandate.
Representing the Minister of Education, Dr Maruf Tunji Alausa, the Director of University Education at the Federal Ministry of Education, Dr Kareem Olawale Lateef, said the student loan scheme demonstrated the administration’s commitment to investing in Nigerian students and equipping them for leadership, innovation, entrepreneurship and participation in the digital economy.
“The Renewed Hope Agenda recognises that the future of our nation depends on the quality, capacity and resilience of its young people. As a student, you are not only a leader of tomorrow, but an active partner in nation-building,” he said.
Also speaking, the Senior Special Assistant to the President on Student Engagement, Comrade Asefon Sunday, urged student leaders to promote academic excellence, integrity, constructive dialogue and peaceful coexistence within their institutions and communities.
He reaffirmed his commitment to maintaining engagement with Nigerian students, understanding their concerns and supporting platforms that advance their academic, economic and social development.
“President Bola Ahmed Tinubu has achieved a lot; he has done a lot for Nigerian students. As young people of this country who are leaders of today, we no longer call ourselves leaders of tomorrow. Enough is enough. Today, our universities and tertiary institutions are now celebrating three years of uninterrupted academic calendars because of President Bola Ahmed Tinubu,” he said.
Earlier, the Vice Chancellor of the Federal University of Lafia, Prof. Muhammed Isa Kida, said the programme demonstrated the government’s continued interest in student development and engagement.
Kida commended the participating students for their discipline and dedication, urging them to avoid practices and lifestyles that could undermine efforts to prepare them for responsible citizenship and future leadership.
The programme attracted student representatives from tertiary institutions across the North Central region, providing a platform for discussions on education financing, student engagement and digital opportunities.
