NELFUND Dispenses Over N10bn in Student Loans Since August, Says CEO
The Nigerian Education Loan Fund (NELFUND) has disbursed over N10 billion in student loans since August 2024, according to its CEO, Akintunde Sawyer. Speaking at a meeting with the House of Representatives Committee on Student Loans, he assured that the initiative is inclusive, reaching all regions, including the South-East, which had previously raised concerns about marginalization.
Chris Oyeoku Okafor 
The Nigerian Education Loan Fund (NELFUND) has disbursed over N10 billion to students across the country since August 2024, according to the agency's Managing Director and Chief Executive Officer, Mr. Akintunde Sawyer. The announcement was made during NELFUND's maiden meeting with the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing at the National Assembly Complex, Abuja, on Wednesday.
Mr. Sawyer dismissed concerns about discrimination in the student loan scheme, affirming that the initiative is reaching all regions of the country, including the South-East, which had previously raised concerns about marginalization. He highlighted that the fund has processed over 350,000 applications and is committed to disbursing a total of N90 billion in tuition fees and stipends.
He stated, "Applications are coming in at an average of over 1,000 per day, and we are making special provisions for students living with disabilities. Moreover, we are focused on addressing the barriers to girl-child education, recognizing that denying girls the opportunity for further education is denying the nation a chance to benefit from their incredible leadership potential."
Mr. Sawyer emphasized the critical importance of the initiative, noting that with 70% of Nigeria's population under the age of 35, providing access to education is vital for the country's future stability. He described the student loan program as a unique palliative measure introduced by President Bola Tinubu to address the challenges in accessing education.
He added, "This policy is not discriminatory; it is inclusive, ensuring that every Nigerian, regardless of location or background, has access to the education they deserve. It is akin to monumental policies such as the free education programme of Chief Obafemi Awolowo, the establishment of the National Youth Service Corps by Gen Yakubu Gowon, and the creation of federal universities."
The Chairman of the Committee, Gboyega Isiaka (APC, Ogun), praised NELFUND as a critical agency with a mission to not only provide loans but also create a future where every Nigerian youth has the opportunity to realize their potential.
