The Nigerian Education Loan Fund (NELFUND) has recorded over one million applications on its student loan portal, a feat it described as historic milestone since its official launch on May 24, 2024.

Since its inception, NELFUND has also disbursed over N116 billion in student loans, covering both institutional fees and upkeep allowances to students across universities, polytechnics, and colleges of education nationwide.

Director, Strategic Communications, NELFUND, Mrs. Oseyemi Oluwatuyi, made this known in a statement on Sunday in Abuja, highlighting efforts of the government to provide access to tertiary education to Nigerian irrespective of their individual background.

According to the statement, the remarkable achievement underscores the far-reaching impact of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which is restoring faith in government-led social empowerment programmes and making higher education more accessible to all Nigerians.

It added that the milestone reflects the administration’s unwavering commitment to human capital development and inclusive growth.

Speaking on the achievement, NELFUND Managing Director/CE, Mr. Akintunde Sawyerr, described it as a defining moment in Nigeria’s journey toward equitable education financing adding that Crossing the one-million mark represents more than data.

He stated that it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education.

The Fund reaffirmed its commitment to continuous process improvement, ensuring that every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.

With this milestone, NELFUND stands as a shining example of a government initiative that is working, authentic, effective, and truly transformative.