Akintunde Sawyerr, NELFund MD, with the Oore of Otun Ekiti, Oba Adekunle Adeagbo, in his palace
The Managing Director of the Nigerian Education Loan Fund (NELFund), Akintunde Sawyerr, has urged parents in Ekiti State to encourage their children to access the Federal Government’s student loan scheme for tertiary education.
Speaking on Friday at the palace of the Oore of Otun Ekiti, Sawyerr said the initiative, launched by President Bola Tinubu in April 2024, is designed to ease the financial burden of higher education on families.
“The student loan policy gives Nigerian students access to tertiary education and allows parents to invest household income elsewhere,” he said, noting that more than 1 million applications had been received since May 2024, with nearly 700,000 students benefiting.
Dr Femi Akinfala, NELFund Executive Director, added that all students admitted into public tertiary institutions automatically qualify for the scheme, which provides interest-free loans for tuition and living expenses.
The Oore of Otun Ekiti, Oba Adekunle Adeagbo, welcomed the initiative, saying it would broaden access to education in his domain and praised Sawyerr for his dedication.
Since its inception, NELFund has disbursed over ₦116 billion to students across 239 universities, polytechnics, and colleges of education nationwide, covering tuition and upkeep allowances.
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