In a strategic move to tackle educational disparity across Nigeria, the Nigerian Education Loan Fund (NELFUND) has announced plans to implement a digital loan application system designed to ensure fair and efficient access for all students.
Speaking at a Stakeholders Engagement Session and Technical Workshop in Abuja, NELFUND Managing Director, Mr. Akintunde Sawyerr, stressed that the initiative is geared toward closing the gap for students in underserved regions and institutions, including polytechnics, monotechnics, and technical institutes.
“Education should never be a privilege based on geography or income level. Our tech-driven system is being developed to remove systemic barriers and guarantee that every willing learner has a pathway to funding,” Sawyerr stated.
The automation effort marks a significant step in addressing long-standing inequalities in student financing, reinforcing the Fund’s mission to democratize access to higher education across Nigeria.
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“For too long, students, especially in technical institutions, have faced significant financial barriers. Many have had to drop out, while others never even considered applying.
“That’s the gap we at NELFUND aim to close but we can’t do it alone. This is a shared mission involving government institutions and the private sector,” Sawyerr said.
Sawyerr emphasised that NELFUND was not only providing financial support but also building a technology-driven infrastructure that enabled easier application processes, institutional verification, and fast, fair disbursement.
“We’re striving for stress-free access a system students can trust.
“Transparency is key so that no applicant is left in the dark. We rely on you, our institutional partners, to help bring this vision to life,” he added.
He urged institutions to partner with NELFUND, saying the goal was to build a system that would not only be functional and sustainable but also truly transformative.
“As we integrate NELFUND processes with institutional systems and standards, we must remember that at the centre of all this is the student, a young Nigerian with dreams and ambition. Everything we do must serve that student.
“The only way forward is through collaboration, open communication, and practical solutions,” he said.
Also speaking at the event, Iyal Mustapha, Executive Director of Operations at NELFUND, said that more than 320,000 students had received funding so far, with further verifications ongoing.
Mustapha clarified that discrepancies between registered students and those whose applications were successfully processed often stemmed from incomplete applications on the students’ part.
“We have 576,000 registrations on our portal, but only 516,000 completed applications. Some may have dropped out due to data issues or just wanted to test the system.
“We want to bridge this gap, and with your support, we can ensure more students access the institutional loan,” he said.
Mustapha further explained that the institutional loan, which is different from the monthly upkeep loan of N20,000, was disbursed directly to institutions.
He added that NELFUND was considering integrating directly with institutional portals to simplify the process for students.
“We’re exploring the possibility of deploying our IT teams to institutions to enable direct connection with your portals.
“Ideally, students should be able to apply via your platforms without having to come through NELFUND, making the process smoother and more accessible,” he said
