The Nigerian Education Loan Fund (NELFUND) has restated its commitment to making student loans more accessible by adopting a transparent, technology-driven system focused on inclusivity and simplicity.
The assurance came from NELFUND Managing Director, Mr Akintunde Sawyerr, during a Stakeholders Engagement Session and Technical Workshop held in Abuja. The event brought together representatives from Polytechnics, Monotechnics, and Technical Institutes to discuss ways to enhance student access to financial support.
.jpeg "NELFUND unveils plans to expand access to student loans with digital, inclusive platform")
Mr Sawyerr drew attention to the economic difficulties experienced by students in technical and vocational institutions, many of whom either drop out or do not apply at all due to barriers in the existing loan application process.
“At NELFUND, our purpose is not just to disburse loans but to unlock opportunity,” he said. “Every young Nigerian who wants to learn and build a future should have that chance, regardless of where they come from or what they choose to study.”
He stressed that the Fund is building an automated platform aimed at efficient institutional verification and prompt, equitable disbursement.
“Our focus is on removing the stress and uncertainty often associated with financial aid. We are developing a system that students can depend on. Clarity and openness are vital so that no one is left confused or excluded,” he stated.
The Executive Director of Operations at NELFUND, Iyal Mustapha, shared updates on the Fund’s progress, revealing that over 320,000 students have already received loan support. He noted that, although 576,000 applicants had registered, only 516,000 had fully completed the application process, largely due to data entry issues or exploratory use of the portal.
Mr Mustapha clarified that institutional loans, which are distinct from the N20,000 monthly upkeep loan, are disbursed directly to educational institutions. He added that NELFUND is now working towards direct integration with institutional portals to further streamline the process.
“We want to remove every obstacle standing between students and the support they need,” Mustapha said. “Our goal is for learners to be able to apply through their school’s own platform without needing to go through NELFUND separately. That would make the entire process more intuitive and less burdensome.”
He encouraged continued collaboration with school administrators to help expand the reach and impact of the loan programme, reinforcing NELFUND’s aim to remove financial barriers to technical and higher education across Nigeria.
