The Nigeria Education Loan Fund (NELFUND) has announced that it received over 500,000 loan applications from students across the country within just 11 months of its operation.
This was disclosed in a statement by Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, on Friday.
What Is NELFUND?
Established in 2023 by the administration of President Bola Tinubu, NELFUND was created to offer interest-free loans to Nigerian students seeking higher education, especially in the face of rising tuition fees in tertiary institutions.
The fund has quickly gained traction among students as tuition costs continue to rise, making education increasingly inaccessible for many families.
A Sign of Growing Demand
“This is more than just a number. It is a signal of hope for families across Nigeria,” said Oluwatuyi.
She emphasized that the massive response reflects the urgency and relevance of the fund’s mission, and shows a nationwide demand for educational opportunity.
Commitment to Transparency and Access
NELFUND says it remains committed to:
1. Transparent application processes
2. Accessible funding for all students, including those from low-income backgrounds
3. Working with stakeholders to ensure equity in education financing
“We are proud to be at the heart of this transformation,” Oluwatuyi added, calling on stakeholders to support the initiative
