Nigerian Education Loan Fund Portal Opened for Student Loan Applications
The Nigerian Education Loan Fund (NELFUND) has announced the official opening of its student loan application portal on May 24, 2024. This significant milestone, confirmed on Thursday night through a statement signed by NELFUND’s media lead, Nasir Ayitogo, aligns with President Bola Tinubu’s commitment to fostering accessible and inclusive education for all Nigerian students.
A New Era for Student Loans in Nigeria
The initiation of the portal marks the operationalization of the Access to Higher Education Act, 2023, which President Tinubu signed into law on June 12, 2023. This act, often referred to as the Students Loan Law, and was a key campaign promise by Tinubu to democratize the funding of education. The law facilitates interest-free loans for indigent students to pursue their educational goals in any Nigerian tertiary institution.The Nigerian Education Loan Fund, established under this act, is responsible for processing all loan requests, grants, disbursement, and recovery. Initially slated for a September launch, the scheme faced delays, leading to an indefinite postponement in early March. The delay was attributed to President Tinubu’s directive to expand the scheme to include vocational skill loans, ensuring inclusivity for students not pursuing traditional university education.
We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.” – Nasir Ayitogo, NELFUND Spokesman
Leadership and Oversight
Following the signing of the Students Loan Bill, President Tinubu appointed a robust management team for NELFUND. Mr. Akintunde Sawyerr was appointed as the Managing Director/CEO, with Mr. Frederick Oluwafemi Akinfala and Mr. Mustapha Iyal serving as Executive Director of Finance & Administration and Executive Director of Operations, respectively. Additionally, Mr. Jim Ovia was appointed Chairman of the Board on April 26. These appointments underscore the government’s dedication to ensuring that the fund is managed efficiently and effectively, providing the necessary oversight to support Nigeria’s educational future.
Mr. Akintunde Sawyerr, Managing Director NELFUND -ARDnig
Expanding Educational Opportunities
After a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu emphasized the importance of skill acquisition alongside academic qualifications. He instructed NELFUND to extend interest-free loans to students interested in skill-development programs, underlining the necessity of accommodating diverse educational and career aspirations. This program is not exclusive. It caters to all young Nigerians, recognizing their diverse talents and aspirations, Tinubu stated that it is not only for future doctors, lawyers, and accountants but also for those who aim to build our nation with skilled hands.
User-Friendly Application Process
NELFUND’s portal provides a user-friendly interface designed to simplify the loan application process for students. Nasir Ayitogo highlighted the importance of this development, urging all eligible students to seize this opportunity to invest in their future. The portal can be accessed at All eligible students must make sure they take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation,” Ayitogo said.
Nigeria student Tertiary Institution – ARDnig
Transformative Steps in Nigeria’s Education
These appointments underscore the government’s dedication to ensuring that the fund is managed efficiently and effectively, providing the necessary oversight to support Nigeria’s educational future. The opening of the student loan application portal on May 24 represents a transformative step in Nigeria’s educational landscape. Apply now to secure your interest-free student loan.
The opening of the student loan application portal on May 24 represents a transformative step in Nigeria’s educational landscape. By providing interest-free loans, the government aims to ensure that no Nigerian student is hindered by financial constraints in their pursuit of higher education and skill development. This initiative not only fulfills a significant campaign promise but also paves the way for a more inclusive and educated society.
