Report: Over 419,000 students register for Nigeria’s education loan program in seven months

Following its launch in May, the Nigerian Education Loan Fund (NELFUND) has attracted over 419,849 student registrations, demonstrating significant strides in reducing financial obstacles to education.

Akintunde Sawyerr, the managing director of NELFUND, revealed this during the inauguration of the Servicom Unit and committee in Abuja on Tuesday.

Out of the total registrations, 319,161 students have successfully completed their loan applications. Sawyerr explained that many applications have been processed and reviewed, and most applicants are expected to receive the loans.

“With about 400,000 new entrants this year, we anticipate our total registrants will reach 2.1 million students,” Sawyerr said. He added that the fund’s commitment covers students in government-owned tertiary institutions, including polytechnics, universities, and colleges of education.

The managing director also revealed that a new batch of loans, amounting to N110 billion, has been approved for disbursement. Of this sum, 60% will go directly to educational institutions to cover tuition fees, while 40% will be sent to students for personal upkeep.

Addressing the newly inducted Servicom members, Sawyerr emphasized the importance of feedback for service improvement.

Nnenna Akajemeli, SERVICOM’s National Coordinator, encouraged teamwork among members to ensure a seamless loan process for beneficiaries. She lauded NELFUND’s efforts in collaborating with SERVICOM to enhance service delivery.

SERVICOM is a federal government initiative focused on promoting efficient service delivery in public institutions.

Akajemeli noted, “Wherever Nigerian students go, they stand out. It is our job to keep encouraging them and build the skills of public servants for excellent service delivery.”

The education loan program continues to gain traction, supporting students nationwide and fostering teamwork for sustainable service delivery.