News Update

THE Senior Special Assistant to the President on Student Engagement, Hon. Sunday Asefon, has highlighted the tremendous impact of the Nigerian Education Loan Fund (NELFUND), describing it as a bridge to socio-economic gaps by making quality education accessible to all, regardless of background.

Recall that President Bola Ahmed Tinubu, barely a month after his inauguration, signed the Access to Higher Education Act into law. The law, which was reenacted, established the Nigerian Education Loan Fund, tasked with the responsibility of granting loans to low-income Nigerians to facilitate the payment of their fees in tertiary institutions across the country.

Since the launch of its groundbreaking student loan portal on May 24, 2024, the Fund has recorded over 550,000 successful loan applications and disbursed N56.85 billion to cover tuition fees and provide upkeep allowances to beneficiary students within the past year.

In a statement issued on Saturday in Abuja to mark the agency’s first anniversary, Hon. Asefon congratulated the Fund and noted that the initiative has helped bridge socio-economic gaps by providing access to quality education in Nigeria.

“Today marks one year since President Bola Ahmed Tinubu brought renewed hope to Nigerian students by launching the Nigerian Education Loan Fund (NELFUND).

“This visionary initiative has helped bridge socio-economic gaps, making quality education accessible to all, regardless of background.

“We extend our heartfelt appreciation to Mr. President for his unwavering support for education and his steadfast commitment to empowering the next generation.

“Your leadership continues to inspire millions across the nation.

“To all stakeholders in the education sector, thank you for your dedication and collaboration in achieving this remarkable milestone.

“May our collective efforts continue to transform lives and shape a brighter future for Nigeria,” Asefon stated.

He also commended student union bodies, including the National Association of Nigerian Students (NANS), the National Association of University Students (NAUS), the National Association of Colleges of Education Students (NANCES), and the National Association of Polytechnic Students (NAPS), for their unwavering advocacy and partnership in ensuring that NELFUND achieves its mandate.

Asefon equally praised the Managing Director of NELFUND, Mr. Akintunde Sawyerr, whom he described as hardworking, along with his relentless team who have been traversing the nation to bring the vision to life.