NELFUND: Rewriting the story of access to higher education

BY ADAGHER TERSOO

In a country where access to higher education has long been hindered by financial hardship, the Nigerian Education Loan Fund (NELFUND) is steadily rewriting that narrative.

For many young Nigerians, especially those from low-income families, dreams of tertiary education have often been cut short due to the inability to pay tuition or sustain basic living costs. Now, that tide is turning.

Since its official launch on May 24, 2024, NELFUND has rolled out what is arguably one of the most far-reaching student financing initiatives in Nigeria’s history. The impact has been both immediate and measurable.

As of June 1, 2025, a total of 610,508 students have registered on the fund’s student loan portal, with 567,798 successful applications recorded.

This reflects not just widespread participation, but a real shift in the country’s approach to educational funding, backed by a remarkable 93% success rate in application processing.

This high success rate is no accident. It shows the Fund’s efficiency, transparency, and commitment to removing financial barriers for Nigerian students.

The momentum has not slowed. On June 1 alone, the portal recorded 912 new successful registrations and 1,615 new successful applicants. This marked a 177% surge in application success among new users compared to the previous day.

The figures clearly demonstrate rising public trust in the platform and its growing relevance to students’ academic journeys.

To date, N56.8 billion has been disbursed through NELFUND. Out of this amount, N30.1 billion went directly to institutional tuition payments, while N26.6 billion was released to students as upkeep allowances, a lifeline for those struggling with daily expenses. So far, 298,124 students across 198 tertiary institutions have benefitted from the programme.

To consolidate these gains and explore more opportunities for reach and effectiveness, the Fund’s managing director and chief executive, Akintunde Sawyerr, has embarked on strategic engagements with stakeholders.

Recently, he met with Senator Opeyemi Bamidele and former Gombe state governor, Senator Hassan Ibrahim Dankwambo, to discuss collaboration on expanding access to tertiary education financing and enhancing student support frameworks.

As NELFUND’s influence expands, so does the recognition of its leadership. In acknowledgment of his pioneering role, Sawyerr was honoured by the Law Students Association of Nigeria (LAWSAN), Nasarawa State University Chapter, with the title “Trailblazer in Educational Equity and Funding.”

The award was presented during the association’s Annual Law Dinner in Keffi, Nasarawa State, where he was celebrated for his vision and tireless work in transforming how Nigerian students fund their education. The award was received on his behalf by Mr. Saifullah Bello.

According to the event organizers, Sawyerr has been “a beacon of hope and a blessing to not only the Law Students Association but to Nigerian students across the nation.” They praised his commitment to transparency, integrity, and fairness in the disbursement of educational loans, calling his leadership “a new standard” in student funding.

“He has cemented his legacy as a true champion for the educational advancement of the nation’s youth,” the organisers said.

Accepting the award on behalf of Sawyerr, Mr. Bello thanked the students for the recognition and reaffirmed the Fund’s unwavering commitment to fairness, accessibility, and long-term impact.

Also speaking at the event was the vice-chancellor of Nasarawa State University, Prof. Saadatu Liman, who lauded President Bola Ahmed Tinubu for initiating the student loan scheme.

She commended NELFUND’s transformative role in empowering young Nigerians to pursue education without financial constraints. According to her, the Fund is more than just a loan platform it is “a tool for personal advancement and national growth.”

The story of NELFUND is no longer just about numbers or policies. It represents a paradigm shift in how Nigeria supports its future leaders. By prioritizing equity, reducing dropout rates, and making higher education more inclusive, the Fund is setting a precedent that education should no longer be a privilege reserved for the few but a right for every deserving Nigerian youth.

Adagher Tersoo, a public affairs analyst and development communications expert, writes from Abuja