NELFUND Urges More Students To Apply As N23 Billion In Education Loans Disbursed

Learn how NELFUND is transforming education with interest-free loans. Over N23 billion has been disbursed to Nigerian students in universities across the country.

NELFUND Encourages Nigerian Students to Apply for Education Loans

The Managing Director and CEO of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has called on students in higher institutions across Nigeria to take advantage of the organization’s loan scheme. He reassured students that the loan application process is entirely transparent and free from any undue interference.

Speaking at a press briefing in Lagos, Sawyerr emphasized NELFUND’s commitment to fairness and equity in disbursing loans. According to him, a total of N23 billion has already been distributed to students, with N18 billion allocated for tuition fees and N5 billion for upkeep. The program has so far benefitted over 326,000 applicants across 228 universities.

To ensure inclusivity, the loan application process has been digitized and made available online, eliminating biases. “You don’t need connections to access the loan,” Sawyerr stated, highlighting the government’s dedication to making education accessible to all Nigerians, regardless of financial circumstances.

Promoting Awareness Across Nigeria

While the loans have been more popular in the northern regions of the country, NELFUND is actively working to raise awareness nationwide. Sawyerr explained that skepticism and cultural factors have contributed to lower participation in certain areas, particularly in the South.

“What we’re doing is ensuring that everyone understands the opportunities available and can make informed decisions,” Sawyerr noted. He added that recent awareness campaigns are already driving increased loan applications from previously hesitant regions.

Interest-Free Loans for Education

One of the standout features of the NELFUND loan program is that it is interest-free, reflecting the government’s commitment to ensuring no Nigerian is deprived of education due to financial constraints.

“Our objective is to provide equal opportunities,” Sawyerr affirmed. “We aim to create fairness and equity in how information is shared so that every Nigerian, regardless of location, can benefit.”

Bridging Regional Gaps

Sawyerr acknowledged the initial hesitation from some parts of the country but confirmed that recent efforts are successfully addressing these concerns. The Southern regions, once reluctant, are now showing increased interest and applications.

NELFUND remains committed to reaching every corner of Nigeria to ensure that all students can access the opportunities provided by this initiative.

“We believe the activities we’ve put in place will continue to encourage more applications. Regions that were initially skeptical are now growing faster in their participation,” Sawyerr concluded.