By Clifford Ejenavi
The Managing Director/Chief Executive of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, is weighing strategic options to significantly expand the Fund’s beneficiary base as applications for student loans have climbed beyond 1.3 million nationwide.
Findings indicated that the surge in applications reflects growing public confidence in the reformed student loan scheme and its role in widening access to tertiary education under the Federal Government’s Renewed Hope Agenda. However, the unprecedented demand has also placed fresh pressure on NELFUND to deepen its reach, mobilise additional resources and strengthen operational efficiency ahead of the 2026 academic cycle.
Sources close to the Fund say Sawyerr has been engaging in intensive consultations with key stakeholders across government, financial institutions, tertiary education bodies and development partners to ensure that more eligible Nigerian students benefit from the scheme without compromising transparency and sustainability.
Speaking recently at a stakeholder engagement forum, Sawyerr acknowledged the growing demand and reaffirmed NELFUND’s commitment to inclusivity. “The volume of applications we are seeing is a clear signal that Nigerian students believe in this intervention. Our responsibility now is to think beyond the present numbers and design pathways to accommodate more beneficiaries while maintaining accountability,” he said.
Since its operational rollout, NELFUND has disbursed over N154billion to 788,947 students across Federal and State Universities, Polytechnics and Colleges of Education, covering tuition fees and upkeep allowances to the tune of over N154billion. The Fund has also intensified sensitisation campaigns across the six geo-political zones to ensure that students from underserved and rural communities are not left behind.
Education sector analysts note that increasing the beneficiary pool beyond current limits will require a mix of improved budgetary support, innovative financing models and stronger collaboration with institutions to streamline verification and disbursement processes.
As 2026 approaches, expectations are high that NELFUND under Sawyerr’s leadership will unveil new measures aimed at scaling impact, reducing processing timelines and ensuring that no qualified Nigerian student is denied education due to financial constraints.
With applications already surpassing 1.3 million, the coming months are expected to be critical in shaping the next phase of Nigeria’s student loan programme and its promise of equitable access to higher education.
