The Nigerian Education Loan Fund (NELFUND) has shared important details about the Federal Government’s student loan program, which has provided financial assistance to over 271,000 Nigerian students since its launch in May 2024. However, the program does not include postgraduate students, and the Fund has explained the reasons behind this decision, as well as its future plans for supporting this group.
Speaking on TVC’s Breakfast Saturday on March 22, 2025, the Managing Director of NELFUND, Akintunde Sawyerr, highlighted the success of the loan scheme and the positive reception it has received from Nigerian students. According to Sawyerr, over 521,000 students had registered for the loan facility, with approximately 438,000 students completing their applications. Of these, 271,000 students have either had their tuition fees paid or received additional financial support for living expenses.
Sawyerr expressed that the loan program has been widely accepted by students across Nigeria, with many expressing their appreciation for the initiative. He pointed out that the positive response from students is a reflection of the trust being restored in the government’s commitment to providing support for education. “Students are reacting extremely positively to the initiative,” he said. “As more disbursements happen, they are becoming more trusting.”
The Fund has made it clear that the program aims to be completely transparent and accessible to every eligible student, without favoritism or the need for personal connections. Sawyerr emphasized that President Bola Tinubu’s administration has made it clear that no one should need “long legs” or “man-know-man” connections to benefit from the program. The goal, according to Sawyerr, is to democratize education in Nigeria by making sure that every deserving student, regardless of their background, has the opportunity to access the financial assistance they need to continue their studies.
While the loan program has brought much-needed relief to many, it does not currently cater to postgraduate students. Sawyerr explained that the primary focus of the loan initiative is on supporting students who are pursuing their first degree. “Post-graduate students can’t apply for this loan,” he said. “We have a lot of people in this country who are just trying to get on the first rung of the ladder as far as tertiary education is concerned.”
According to Sawyerr, the funds allocated for the program are specifically targeted at students who are entering higher education for the first time. The goal is to help young Nigerians who may otherwise be unable to afford university education due to financial constraints. He noted that the priority is to ensure that these students, who are often fresh out of secondary school, do not drop out because of a lack of funds. “Our focus right now is on those who are leaving secondary school and dropping out because they can’t afford to go to university,” he explained.
The Fund has a clear aim: to keep students enrolled in university and help them complete their degrees. The program is designed to prevent students from dropping out after their first or second year due to financial difficulties. Sawyerr further added, “We want to stop people from dropping out in 200 Level, 300 Level, or 400 Level because of lack of money.”
Although postgraduate students are not currently eligible for the loan, Sawyerr assured them that the Fund has plans to extend support to this group in the future. He made it clear, however, that the immediate priority is to assist undergraduates who are in the most need of financial help. “At some point in the future, we will be able to fund them,” he said, referring to postgraduate students. “Today, we are looking for those who need us most. They are the people we want to support.”
The focus for now is on helping students who are just beginning their higher education journey, as well as those who face the risk of dropping out due to financial constraints. Sawyerr congratulated those who have already graduated and are now pursuing postgraduate studies, acknowledging their achievements. However, he reaffirmed that the current priority remains supporting undergraduate students.
“We do have plans for them (postgraduate students), but they are not our priority currently,” Sawyerr said. “Our priority currently is to help those who need us most — those who are just entering university and those who risk being unable to complete their education.”
The NELFUND program aims to provide a financial cushion for students who would otherwise struggle to afford tuition and living expenses. By focusing on undergraduates, the government hopes to improve access to education and reduce the number of students who are unable to finish their degrees due to financial hardships. The scheme is part of a broader effort to tackle the barriers to higher education in Nigeria and ensure that young Nigerians have the opportunity to pursue their academic and professional goals.
The Managing Director emphasized that the decision to prioritize undergraduates is based on the understanding that a significant number of students face difficulties in completing their first degree. Many of these students, Sawyerr explained, come from disadvantaged backgrounds and have few financial resources to draw upon. By offering this support, the government hopes to prevent them from being excluded from higher education.
While postgraduate students may have to wait for future iterations of the loan program, Sawyerr’s comments offer a hopeful outlook for the future. He made it clear that the government’s long-term vision includes providing postgraduate loans as well, but only once the undergraduate program has been fully established and is successfully supporting the students who need it most.
For now, postgraduate students will have to rely on other sources of funding for their advanced studies, but the government’s plan to eventually include them in the loan scheme provides hope for the future. With the current focus on undergraduates, NELFUND aims to create a solid foundation for the program and ensure that it meets the needs of the students who will benefit the most.
