UNILAG Hosts Awareness Campaign on NELFUND Student Loan Scheme

The University of Lagos (UNILAG) hosted an awareness campaign on the Nigerian Education Loan Fund (NELFUND) on Wednesday, May 21, 2025, aimed at sensitising students to the benefits and application processes of the scheme.

The campaign, organised under the auspices of the Student Affairs Division of the University, was held at the Nurudeen Alao Auditorium, Distance Learning Institute (DLI), where a large number of students converged to engage with officials of the Fund.

The NELFUND delegation, led by the Board Secretary and General Counsel Funmilayo Alagbada, delivered presentations on the eligibility criteria, terms and conditions, application procedures, potential challenges, and benefits of the loan initiative to the tertiary education sector.

The Director of Strategic Communications at NELFUND, Oseyemi Oluwatuyi, explained the critical importance of the scheme in addressing financial barriers faced by students. The Head of ICT at the Fund, Wale Ogunleye, conducted a step-by-step demonstration of the online application process.

A significant portion of the event was dedicated to a question-and-answer session, during which students raised concerns regarding pending applications, delayed payments, and other challenges. The officials responded to each enquiry, offering clarifications and reassurances.

In his remarks, Professor Musa Obalola, the Dean of Student Affairs, who received the NELFUND team on behalf of the University Management, stated that the campaign was necessitated by the volume of concerns expressed by university students. He noted that the student loan scheme had become a crucial intervention in light of prevailing economic conditions.

Professor Obalola further described the initiative as a welcome development and a product of necessity designed to support and safeguard access to tertiary education nationwide.

The Student Loans Act of 2023, which established NELFUND, was signed into law in April 2024. The Fund was established by the Federal Government of Nigeria to provide interest-free loans to eligible students, thereby alleviating financial constraints in higher education. The application portal was officially opened in May 2024.