The Nigerian Education Loan Fund (NELFUND) has provided interest-free loans to over 396,000 students since its inception in May 2024. This was revealed by NELFUND boss, Akintunde Sawyerr, during a media chat on July 17, 2025.
Sawyerr said over 645,000 students across Nigeria have applied so far. The digital loan system, he noted, ensures smooth and transparent processing. He added that many of the beneficiaries are first-generation students in universities and vocational schools. NELFUND, which is part of President Tinubu’s Renewed Hope Agenda, helps students pay school fees and get upkeep funds without paying interest.
While acknowledging that there have been some challenges, like data delays and misinformation, the NELFUND boss assured that the agency continues to improve its operations. Sawyerr urged students to apply and praised the government’s support in making education more accessible to all.
