The Nigerian Education Loan Fund (NELFUND) is making significant strides in providing financial assistance to students in public tertiary institutions, with an ambitious goal of supporting approximately 1.8 million students. Speaking to journalists in Lagos, NELFUND Managing Director, Mr. Akintunde Sawyerr, highlighted the fund’s impact and growing reach, noting that over 330,000 students are already benefiting from the initiative, which began 200 days ago.
Daily Applications Reflect High Demand
Mr. Sawyerr disclosed that NELFUND receives approximately 1,500 applications daily, underscoring the critical demand for financial aid among Nigerian students. Of the 420,000 registered applicants, over 330,000 have been approved for loans.
“We estimate there are around 1.8 million students in publicly owned tertiary institutions. Of this figure, we believe 70 to 80 per cent may require financial support,” Sawyerr stated.
He emphasized that the fund’s goal is to reach every student in need, without imposing a cap on the number of beneficiaries. “We don’t have a limit. If the total number needing loans is 1.8 million, we will reach them. If it’s 1.6 million, we will reach them. We are actively seeking students who need this financial support,” he added.
Bridging the Financial Gap
NELFUND was established to ensure that no Nigerian student is denied access to higher education due to financial constraints. Sawyerr explained that the initiative aims to alleviate the financial burden on parents and guardians, making higher education more accessible.
“Our mission is clear: to bridge the financing gap that prevents students from enrolling in the institutions they’ve been admitted to. No student should be left behind simply because of financial constraints,” he said.
The fund covers students in public universities, polytechnics, and colleges of education, ensuring equitable access to education for all.
Long-Term Vision
NELFUND’s mission aligns with the broader goal of empowering Nigerian students to achieve their educational aspirations and reach their full potential. Sawyerr reiterated the fund’s commitment to addressing financial barriers, emphasizing its critical role in fostering a more inclusive and equitable educational landscape.
“The role of NELFUND is to ensure that no student in Nigeria loses the opportunity to get the best education possible. We want every student to realise their full potential, and financial barriers should not stand in their way,” Sawyerr concluded.
Growing Impact
As the initiative expands, NELFUND is poised to transform access to higher education in Nigeria. With over 330,000 students already benefiting and thousands more applying daily, the fund is bridging a critical gap for students who might otherwise be unable to pursue their dreams. By continuing to grow its reach, NELFUND is making significant contributions to Nigeria’s educational and economic development.
