From Fred Ezeh, Abuja
The Nigerian Education Loan Fund (NELFUND) has reaffirmed its dedication to providing equal access to its student loan scheme for all Nigerian students, regardless of location or background. The agency stressed the importance of thorough verification with stakeholders, including the Joint Admissions and Matriculation Board (JAMB) and respective institutions, before disbursing funds to ensure authenticity.
NELFUND’s Managing Director, Akintunde Sawyerr, made this assurance on Tuesday in Abuja during a stakeholders’ engagement session and technical workshop focused on system automation and loan application processes. He acknowledged initial challenges but emphasised efforts to address gaps, particularly for technical students facing financial barriers.
“For too long, many technical students have faced financial barriers. Some had to drop out of school, while others never applied. This is the gap we want to close,” Sawyerr said. “When you launch a project of this magnitude, you prepare, launch, and refine based on engagement and issues. This isn’t just teething problems—it’s about evolving with feedback, technology, and user needs.”
Sawyerr praised the National Board for Technical Education (NBTE) for its regulatory role and urged continued collaboration to integrate institutional systems with NELFUND’s processes. “At the heart of all this is the student, the young Nigerian with dreams and ambition. Everything we do must serve the student. It’s a loan, not a giveaway. Students must make informed decisions about taking it to invest in their future,” he added.
On application data, Sawyerr reported that NELFUND has recorded approximately 570,000 registrations, with over 515,000 applicants completing the process. Daily applications average 1,800, and he assured that speed will not compromise standards.
Executive Director of Operations, Iyal Mustapha, urged institutions to prioritise data accuracy, timely verification, and clear communication with students, noting these as major challenges. He outlined NELFUND’s mission: reducing students’ financial burdens, promoting access to education for all qualified Nigerians, and ensuring prompt disbursement of institutional charges.
Mustapha explained that students must apply via the dedicated NELFUND portal. After submission, NELFUND verifies eligibility and sends applicant lists to institutions for confirmation. Only upon institutional verification are funds disbursed directly to schools for tuition and charges, while upkeep allowances are paid to students’ bank accounts.