The Managing Director of the Nigerian Education Loan Fund, Mr Akintunde Sawyerr, has disclosed that the fund is receiving 1,500 applications daily and targets supporting approximately 1.8 million students in public tertiary institutions.
Speaking to journalists in Lagos, NELFUND’s Managing Director, Mr. Akintunde Sawyerr, revealed that over 330,000 students are already benefiting from the fund, out of more than 420,000 registered applicants.
The initiative, launched 200 days ago, aims to bridge the financial gap for students pursuing higher education.
“We estimate there are around 1.8 million students in publicly owned tertiary institutions. Of this figure, we believe 70 to 80 per cent may require financial support,” Sawyerr stated. “Our goal is to reach every single student who needs this loan. Currently, our penetration stands at over 330,000 beneficiaries, and the number is growing daily.”
Sawyerr emphasised that there is no cap on the number of students the fund aims to support, stressing that the mission is to assist every eligible student facing financial challenges.
“We don’t have a limit. If the total number needing loans is 1.8 million, we will reach them. If it’s 1.6 million, we will reach them. We are actively seeking students who need this financial support,” he added.
NELFUND is designed to ensure that no Nigerian student is denied the opportunity to achieve their educational aspirations due to lack of funds.
Sawyerr noted that the fund plays a critical role in helping parents and guardians overcome financial hurdles.
“Our mission is clear: to bridge the financing gap that prevents students from enrolling in the institutions they’ve been admitted to. No student should be left behind simply because of financial constraints,” he said.
Since its inception, NELFUND has focused on ensuring equitable access to education for all Nigerian students in public universities, polytechnics, and colleges of education.
“The role of NELFUND is to ensure that no student in Nigeria loses the opportunity to get the best education possible. We want every student to realise their full potential, and financial barriers should not stand in their way,” Sawyerr said.
