Over 500,000 students applied for loans in 11 months, the Nigeria Education Loan Fund (NELFUND) has said.
The agency said that the figure indicates the critical need for accessible student financing in Nigeria.
The Director of Strategic Communications of the Agency, Mrs Oseyemi Oluwatuyi, in a statement yesterday stated that the number of applicants highlights the widespread trust in NELFUND to democratise access to tertiary education.
The statement reads:
“The Nigeria Education Loan Fund (NELFUND) has reached a remarkable milestone in its first year of operation: over 500,000 Nigerian students have now applied for student loans through the NELFUND portal.”
“This milestone, achieved within just 11 months of operations, underscores the critical need for accessible student financing in Nigeria and highlights the widespread trust in NELFUND’s mission to democratize access to tertiary education.”
The Managing Director of NELFUND, Mr. Akintunde Sawyerr, in the statement stated:
“This is more than just a number, it’s a signal of hope for families across Nigeria. We are witnessing a nationwide demand for opportunity, and NELFUND is proud to be at the heart of this transformation.”
The agency also revealed that since the launch of the portal, students across the country have actively engaged with the application process for both institutional and upkeep loans, which demonstrate the relevance and urgency of the Fund’s efforts.
NELFUND, while stating its commitment to ensure transparency, accessibility, and efficiency as the process continues, called on all stakeholders to join in supporting the vision of equitable education for all.
