The Nigerian Education Loan Fund (NELFUND) announced that it will open the second phase of its student loan application portal in three weeks. This phase will include students from state-owned tertiary institutions. Akintunde Sawyerr, the Managing Director of NELFUND, shared this news during a press conference in Abuja.
The first phase, which started last week, is already accepting applications from students at federal government tertiary institutions, including universities, polytechnics, and colleges of education. Sawyerr highlighted NELFUND’s goal of democratizing higher education by extending the loan program to state institutions. He urged these institutions to quickly submit their students’ data for a smooth application process.
Sawyerr stated, “In line with our commitment to democratize higher education, we are excited to announce that NELFUND will begin accepting applications from students attending state-owned tertiary institutions in three weeks. We request all state institutions to submit their students’ data immediately to ensure a smooth and seamless application process.”
Sawyerr also revealed plans to launch a skill acquisition loan component in six months. This program will provide training in various vocational and technical fields to prepare students for the modern job market and encourage entrepreneurship and innovation.
He said, “Beyond financial assistance, NELFUND recognizes the importance of equipping our youth with practical, market-relevant skills. Six months from today, we will launch a comprehensive skills acquisition program to prepare students for the demands of the modern job market, fostering entrepreneurship and innovation.”
Since the first phase of the student loan application portal launched, NELFUND has received over 60,000 applications, indicating a high need for financial assistance among Nigerian students. Sawyerr mentioned that over 90 percent of federal tertiary institutions have submitted their student data, with a few still pending.
“We urge the remaining two federal universities and five federal polytechnics to expedite the process to ensure that all eligible students can access our financial support,” Sawyerr added.
NELFUND was established under the Access to Higher Education Act, signed by President Bola Tinubu. The Fund handles all student loan requests, grants, disbursements, and recovery. It is funded through multiple sources, including donations, gifts, grants, endowments, and other revenues.
