The Nigerian Education Loan Fund (NELFUND) now receives approximately 1,800 student loan applications each day from across the country.
According to The Nation, the fund’s managing director and chief executive officer, Akintunde Sawyerr, shared this update during a stakeholders’ engagement and technical workshop in Abuja that focused on improving loan application processes and system automation.
Sawyerr revealed that over 500,000 students are currently active on the NELFUND platform, benefiting from the loan scheme. He emphasized that the initiative was designed to give all willing students a fair opportunity to pursue education, regardless of their background or field of study.
“For too long, many students, especially in technical institutions, faced steep financial barriers,” Sawyerr said. “Some dropped out while others have never applied. This is the gap we’re here to close. But we know we can’t do it alone.”
He noted that the government, institutions, and private sector all have a shared responsibility in ensuring access to education is widened. The workshop aimed to address challenges identified since the fund launched, including technical issues and user accessibility.
NELFUND is now focusing on building a technology-supported system that streamlines the loan application process for students, improves verification for institutions, and ensures fast and transparent fund disbursement.
Sawyerr also mentioned that regular stakeholder engagements will continue to take place, allowing the fund to adapt quickly to user needs, challenges, and opportunities as they emerge.
Article updated 3 weeks ago. Content is written and modified by multiple authors.
