Abuja, July 9, 2025
The Nigerian Education Loan Fund (NELFUND), introduced in 2023 by President Bola Ahmed Tinubu, has become a key pillar in the administration’s push to make higher education more accessible for Nigerian youths.
Designed as an interest-free loan initiative, NELFUND aims to eliminate financial barriers that often prevent students from pursuing tertiary education. The scheme currently supports students in public universities, polytechnics, and colleges of education, with future plans to include other categories of learners.
By offering zero-interest loans, the initiative ensures that students from low-income backgrounds can enrol in school without worrying about tuition or upkeep. This strategic move reflects the administration’s commitment to human capital development and inclusive education.
Since its rollout, NELFUND has facilitated access to education for hundreds of thousands of students who might otherwise have dropped out due to economic hardship. Government officials have reiterated that the fund is not just a temporary fix but a long-term solution aimed at transforming Nigeria’s education landscape.
Plans are underway to expand the scheme’s reach and improve its efficiency, with ongoing efforts to digitize the application process, collaborate with financial institutions, and introduce accountability measures to track repayments once beneficiaries graduate and secure employment.
NELFUND remains one of the most ambitious student support programmes in Nigeria’s history, and its impact continues to resonate in campuses across the country as it helps bridge the gap between economic status and educational opportunity.
