the Federal Government has reiterated that students seeking financial support under the Nigerian Education Loan Fund (NELFUND) do not need any political influence, connections, or “godfathers” to benefit from the programme. This announcement marks a critical milestone in the country’s efforts to remove barriers to education financing and promote fairness in opportunities for young Nigerians.
The statement was made by Mr. Akintunde Sawyerr, the Managing Director and Chief Executive Officer of NELFUND, during the Fund’s South-West tour of the year, where the management team paid a courtesy visit to Ondo State Governor Lucky Aiyedatiwa. According to Mr. Sawyerr, eligibility for the student loan programme is strictly merit-based and fully automated, eliminating room for any form of nepotism or undue influence.
A Transparent, Fair and Automated Loan Process
At the heart of the NELFUND student loan initiative is a commitment to fairness and transparency. The application process takes place entirely online through a designated portal, where aspiring applicants submit their personal bio-data and essential credentials. These include admission details from recognised tertiary institutions, as well as valid National Identification Numbers. Mr. Sawyerr emphasised that no physical lobbying, networking, or recommendation is involved in the selection process, ensuring that every eligible student has an equal chance to access education financing.
Because the portal uses objective eligibility criteria and digital verification systems, the need for personal contacts or influential backers has been completely eliminated. This is a significant departure from longstanding perceptions that government programmes in Nigeria may favour individuals with powerful sponsors.
What the Loan Covers and How It Works
Under the NELFUND scheme, tuition and institutional fees are paid directly to the student’s school, while successful applicants may also receive stipends to support their upkeep during the academic year. This dual-support structure ensures that students are not only enrolled but are also supported financially while they pursue their studies.
This unique model also protects students from mismanagement of funds, as school authorities handle direct payments for academic charges, reducing the risk of diversion or misuse of loan funds.
Repayment Designed for Graduates’ Success
Another noteworthy feature of the programme is its non-punitive repayment structure. Graduates are required to begin repayment two years after completing the National Youth Service Corps (NYSC) programme. Repayment deductions are income-based, ensuring that graduates contribute based on their ability to earn, and thereby reducing undue financial stress early in their careers.
This flexible repayment design is aligned with global best practices and underscores the government’s understanding of economic realities faced by young graduates entering the job market.
A Cornerstone of the Renewed Hope Agenda
NELFUND’s student loan initiative is being hailed as one of the most significant reforms in tertiary education financing under the current administration. The programme is rooted in the vision of President Bola Ahmed Tinubu, who signed the Nigerian Education Loan Fund Act into law in April 2025. This legal framework provides the foundation for NELFUND’s operations and underscores the federal government’s long-term commitment to making higher education accessible to all Nigerians, regardless of socioeconomic background.
Governor Lucky Aiyedatiwa of Ondo State echoed this sentiment, describing the initiative as a historic intervention that complements existing bursary and scholarship programmes. He affirmed his administration’s support for the loan scheme and pledged to mobilise students across the state to participate, reinforcing the drive toward widespread awareness and uptake.
Breaking Financial Barriers, Boosting National Development
At its core, the NELFUND student loan scheme is designed to tackle one of the most persistent challenges in Nigeria’s education sector — the financial barriers that prevent bright, ambitious students from completing their tertiary education. By removing the need for personal connections and making the process accessible online, the scheme promotes equity, inclusion, and social mobility.
Furthermore, by supporting tuition, fees, and basic upkeep, the programme not only helps students remain in school but also enhances retention and graduation rates across tertiary institutions nationwide. The potential long-term impact of this approach includes a broader pool of skilled young professionals who are better positioned to contribute meaningfully to the nation’s economy.
