By Oyinkansayo Wole-Bodunde.
The Nigerian Education Loan Fund (NELFund) has reassured students that there’s no specific timeframe for disbursing loans to university students who have applied for the fund’s institutional charges.
This announcement aims to reduce concerns among students who fear missing payment deadlines for their school fees.
Nasir Ayitogo, NELFund’s spokesperson, clarified that the application process itself serves as a screening mechanism, ensuring only eligible students receive the loan. “The application process itself is a form of screening. You cannot go through a particular stage if you don’t have some required details. But if you have applied successfully, you’re 99.9 percent certain to get the loan,” he stated. Ayitogo also emphasized that funding isn’t an issue, as NELFund has enough resources to support over 1.2 million students, with less than 500,000 applications received so far.
President Bola Ahmed Tinubu launched the digital NELFund disbursement exercise in July 2024, highlighting the importance of providing loans to encourage students to pursue higher education and contribute to national development.
The initiative aims to promote inclusiveness and equity, removing financial barriers to higher education for Nigerian students.
Akintunde Sawyerr, NELFund’s Managing Director, acknowledged the delays in disbursement and assured students that efforts are underway to address these challenges and enhance efficiency. To ensure a smooth process, NELFund has streamlined the loan application process, making it easily accessible for all eligible students in federal tertiary institutions.
