The Nigerian Education Loan Fund (NELFUND) has approved the inclusion of 22 additional state-owned postsecondary institutions to its student loan program, further broadening access to educational financing across the country. This recent expansion allows students from these newly added institutions to apply for loans through the Nigeria Education Loan Fund’s official website, nelf.gov.ng.
The announcement follows a comprehensive review by the group responsible for the Student Verification System. With this approval, the total number of eligible institutions now stands at 108, encompassing the 86 state-owned schools previously cleared by NELFUND. The statement, shared via NELFUND’s official handle @NELFUND on X (formerly Twitter), marks a significant step forward in the fund’s mission to support higher education in Nigeria.
This initiative aligns with President Bola Tinubu’s commitment to enhancing educational opportunities for all Nigerians. One of Tinubu’s premier projects in the education sector, the student loan program, was established to provide financial assistance to low-income and underprivileged students, enabling them to pursue higher education without the burden of upfront tuition fees.
President Tinubu solidified this commitment by signing the Access to Higher Education Act shortly after taking office. This act laid the foundation for the Nigerian Education Loan Fund, creating a legal framework that ensures eligible students can secure loans to cover their tuition at higher institutions across Nigeria. The law also outlines the responsibilities of NELFUND, which include managing all aspects of the loan process—from application and disbursement to recovery.
Beyond facilitating student loans, the act empowers the Nigerian Education Loan Fund to engage in other beneficial activities, supported by funding from various sources. These efforts underscore the government’s dedication to making higher education accessible to a broader segment of the Nigerian population, thereby fostering a more educated and empowered society.
