Student Loan: NELFUND applauds Tinubu over fresh funding for scheme

The Nigerian Education Loan Fund (NELFUND) has applauded President Bola Tinubu for his landmark commitment to securing sustainable financing for the student loan scheme.

The commendation follows a presidential directive to channel eligible liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) to the Fund.

In addition, the Federal Executive Council approved the redirection of unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to NELFUND to help meet its growing student loan obligations.

The development comes as the student loan scheme continues to expand, with NELFUND having disbursed over N322 billion through more than 1.6 million student loan applications as of August 2026.

In a statement signed by its Director of Strategic Communications, Mrs Oseyemi Oluwatuyi, the Fund said the latest interventions would strengthen the sustainability of student financing in Nigeria.

The Chairman of the NELFUND Board, Jim Ovia, also commended Tinubu for his continued support and confidence in the Fund.

Ovia said the development further demonstrated the administration’s commitment to expanding access to higher education and ensuring that financial constraints do not prevent eligible Nigerians from pursuing their studies.

Commenting on the development, NELFUND Managing Director/Chief Executive, Akintunde Sawyerr, thanked the President for his continued commitment to removing financial barriers to higher education.

“NELFUND deeply appreciates His Excellency, President Bola Ahmed Tinubu, for this significant intervention and for his unwavering commitment to ensuring that no Nigerian student is denied access to higher education because of financial constraints.

“This decision demonstrates Mr. President’s strong belief in the transformative power of education and provides further confidence in our collective efforts to build a sustainable student financing system for Nigerian students.

“On behalf of the Executive Management, staff of NELFUND, and millions of Nigerian students, we thank Mr. President for this confidence and assure him that we will continue to deploy every resource entrusted to the Fund responsibly, transparently and in the best interest of Nigerian students.”

NELFUND said the decision further strengthens the Federal Government’s commitment to sustainable financing for education and will support the Fund’s efforts to reach more eligible Nigerian students.