EDUCATION

NELFUND Bold Mission: Making Higher Education a Right, Not a Privilege

In just over a year since its launch, the Nigerian Education Loan Fund (NELFUND) is transforming the landscape of higher education, with over 567,000 students successfully approved for funding.

With ₦56.8 billion already disbursed, the fund is not just paying tuition, it’s fuelling student dreams and driving Nigeria closer to true educational equity.

In a country where financial limitations have long stood in the way of educational dreams, the Nigerian Education Loan Fund (NELFUND) is steadily changing the game, one student at a time.

For decades, many young Nigerians, particularly those from disadvantaged backgrounds, watched their hopes of higher education fade due to the inability to afford tuition or cover daily living expenses. But since its launch on May 24, 2024, NELFUND has redefined access to education through one of the most impactful student financing initiatives in Nigeria’s history.

And the results speak for themselves.

As of June 1, 2025, over 610,000 students have registered on NELFUND’s loan platform, with 567,798 successful applications recorded, a stunning 93% success rate. This isn’t just a bureaucratic achievement; it’s a real signal that young Nigerians are finally being given the tools to succeed.

In just one day, June 1 alone, the portal saw 912 new successful registrations and 1,615 new approvals, representing a 177% leap in new successful applications compared to the previous day. It’s a sign of growing trust in the system and proof that the fund is not only functional but also effective.

So far, ₦56.8 billion has been disbursed through the initiative. Out of that amount, ₦30.1 billion has gone to cover institutional tuition fees, while ₦26.6 billion has been provided directly to students for upkeep, helping them meet day-to-day expenses and focus on their studies. In total, 298,124 students across 198 tertiary institutions have already benefited from this groundbreaking program.

To broaden the initiative’s reach and impact, NELFUND Managing Director and CEO, Akintunde Sawyerr, has been engaging with key education stakeholders. His recent meetings with Senator Opeyemi Bamidele and Senator Hassan Ibrahim Dankwambo centered around scaling access to education finance and improving student welfare across Nigeria’s higher institutions.

Sawyerr’s efforts have not gone unnoticed. He was recently honored by the Law Students Association of Nigeria (LAWSAN), Nasarawa State University Chapter, with the title “Trailblazer in Educational Equity and Funding.”

The award was presented during LAWSAN’s Annual Law Dinner in Keffi, acknowledging Sawyerr’s pivotal role in democratizing student finance. Accepting the award on his behalf, Mr. Saifullah Bello reaffirmed the Fund’s commitment to fairness, accessibility, and long-term impact.

Event organisers described Sawyerr as “a beacon of hope” whose transparent leadership has redefined student loan administration in Nigeria. According to them, he has “set a new standard” for equitable funding, making him a true champion of youth empowerment.

The event also featured remarks from Professor Saadatu Liman, Vice-Chancellor of Nasarawa State University. She praised President Bola Ahmed Tinubu for initiating the loan scheme and lauded NELFUND’s efforts in removing financial barriers from education. In her words, NELFUND is more than a financial tool; it’s “a catalyst for personal and national development.”

In truth, NELFUND’s story is no longer just about data and disbursements. It’s about restoring hope, breaking cycles of poverty, and making higher education a realistic dream for every Nigerian youth.

As the fund continues to grow, it is not only bridging the financial gap, it’s also building a future where education is a right, not a luxury.

Osemekemen

Ilumah Osemekemen is Editor at Newskobo.com. A Business Administration graduate, he produces researched content on business, tech, sports and education, delivering practical… More »

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