The Managing Director of the Nigerian Education Loan Fund, Akintunde Sawyerr, shared during a press briefing in Abuja that their website has attracted over 60,000 visitors since its launch. He also mentioned that nearly all federal institutions have submitted their lists of students, with only a few remaining.

In the next three weeks, the scheme will extend to students of state universities, Sawyerr revealed. This expansion comes after President Bola Tinubu signed the Access to Higher Education Act, 2023 into law on June 12, 2023, fulfilling his campaign promise to enhance education funding.

This Act, also known as the Students Loan Law, established the Nigerian Education Loan Fund to oversee loan requests, grants, disbursements, and recoveries. Initially slated for a September launch, the scheme faced delays, eventually postponed indefinitely in March due to Tinubu’s directive to include vocational skills loans.

Following a briefing from the NELFUND team led by Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu instructed the Fund to provide interest-free loans for Nigerian students interested in skill-development programs. This decision aligns with Tinubu’s belief in the importance of skill acquisition alongside academic qualifications.