NELFUND’s ₦242.4bn disbursement driving real-life Impact, expanding access to higher education

The Tinubu Stakeholders Forum (TSF) has welcomed the continued expansion of the Nigerian Education Loan Fund (NELFUND), which has now disbursed over ₦242.4 billion to more than 1.38 million Nigerian students.

In a statement signed by its Chairman Ahmad Sajoh and Secretary Danjuma Sada, it described the milestone as a turning point in the democratisation of access to higher education in Nigeria.

“The student loan scheme, which is barely two years old, is not only easing the financial burden of education but also reshaping the experience of learning for thousands of young Nigerians across the country.

“For us, the true significance of the programme lies beyond the numbers, it is more in the real-life success stories emerging from beneficiaries.

Like many Nigerians, we have heard stories across campuses of students who previously struggled to pay tuition or had to combine schooling with strenuous work, but who are now able to focus fully on their studies.

“Many have described the intervention as a “lifesaver,” noting that it has restored their ability to learn with dignity and pursue academic excellence without constant financial anxiety,” it said.

TSF noted that for many beneficiaries, the loan has effectively removed the threat of dropping out of school. “Students from low-income backgrounds who previously lacked support systems now have a reliable pathway to complete their education.

“Others have highlighted how the upkeep allowances have reduced dependence on family members, allowing them to manage daily expenses independently and remain committed to their academic goals,” it said.

The Forum further observed that the scale of participation with over 1.77 million applications, reflects both the need and the credibility of the initiative among Nigerian youths.

“With over ₦157 billion disbursed for institutional fees and nearly ₦85 billion for upkeep, the programme has demonstrated a comprehensive approach that supports students throughout their academic journey, not just at the point of admission.

“It is gratifying that NELFUND is helping to entrench a new national culture—one where access to tertiary education is no longer determined by economic circumstance but by ability, ambition, and opportunity.

“This shift is critical to building a more inclusive society, strengthening Nigeria’s human capital base, and unlocking the full potential of the country’s youthful population,” it added.

The Forum commended President Bola Ahmed Tinubu for prioritising education as a strategic pillar of national development and for implementing reforms that deliver direct, measurable impact on the lives of citizens. It described the programme as a practical example of policy translating into tangible outcomes for ordinary Nigerians.

TSF urged sustained funding, transparency, and efficient administration of the scheme to ensure that its benefits continue to expand, particularly to students in underserved and rural communities. It also called for continued public awareness to encourage eligible students to take advantage of the opportunity.

As the programme grows, TSF expressed confidence that initiatives like NELFUND will play a defining role in shaping a more educated, productive, and economically empowered generation, positioning Nigeria for long-term growth and shared prosperity.