Latest News on NELFUND Student Loan Approval, Disbursement Today, November 3, 2025

The Nigerian Education Loan Fund (NELFUND) has announced that applications for the Federal Student Loan Scheme have exceeded one million — a milestone that marks it as one of the most widely accepted social intervention programmes under President Bola Tinubu’s administration.

In a statement released on Sunday, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, said the achievement came less than a year after the initiative’s launch on May 24, 2024, describing it as a clear reflection of growing public trust in the scheme.

According to the agency, over ₦116 billion has already been disbursed to students in universities, polytechnics, and colleges of education nationwide. The funds cover both tuition and upkeep allowances, aimed at reducing the financial strain on learners.

Managing Director of NELFUND, Akintunde Sawyerr, credited the programme’s success to President Tinubu’s Renewed Hope Agenda, which prioritises equitable access to education for all Nigerians.

“Crossing the one-million mark represents more than data; it symbolises renewed hope for a generation of Nigerians determined to rise above financial barriers to education,” Sawyerr stated. “It is a testament to visionary leadership, sound policy design, and the collective effort of all stakeholders driving this transformative agenda.”

The agency reaffirmed its commitment to enhancing transparency, efficiency, and accessibility in the loan process, assuring that every eligible student—regardless of background or location—will have the opportunity to benefit.

NELFUND further emphasised that the programme is non-discriminatory and inclusive, cutting across all religious and ethnic divides, while fostering unity through equal educational opportunities.

“NELFUND remains focused on ensuring that no Nigerian is denied the chance to learn, grow, or contribute to national progress due to financial constraints,” the statement concluded.