Man Turns ₦270k NELFUND Loan Into First Million

(The Nigerian man. Photo by Naijaonpoint)

A Nigerian man has gone viral after claiming that a ₦270,000 loan from the Nigerian Education Loan Fund (NELFUND) changed the course of his life, helping him buy a new phone and launch a content creation journey that eventually earned him his first million naira.

Sharing his experience on social media, the man said he applied for the NELFUND loan earlier this year despite the fact that his parents had already paid his school fees.

He explained that his decision was driven by the need to replace his faulty iPhone 7 ahead of his graduation, adding that some of his friends criticised him and warned him against taking the loan.

Recounting how he spent the money, he said, “The money sha drop o, 270k in my ZENITH bank account.”

He explained that he immediately bought an iPhone 11 and paid for three months of a premium social media subscription, believing this would help him stay consistent with content creation.

Months later, he said he made his first million, expressing gratitude and urging others to take bold, risky steps.

The story has sparked widespread reactions online, with many users commending him for what they described as a smart investment in himself.

Others, however, questioned whether a student loan should be used for purposes outside educational expenses, while some argued that his story shows how access to technology can open up new income opportunities.

His account has continued to generate conversation around NELFUND loans, entrepreneurship, and the responsible use of financial support.