NELFUND Commends Tinubu for Supporting Sustainable Student Loan Financing

The Nigerian Education Loan Fund (NELFUND) has commended President Bola Ahmed Tinubu for supporting efforts to ensure sustainable financing of the country’s student loan programme.

NELFUND welcomed the President’s directive that eligible liquid funds recovered by the Economic and Financial Crimes Commission (EFCC) be channelled to the Fund to meet its growing student loan obligations.

The Fund also welcomed the Federal Executive Council’s approval for unclaimed dividends from the Capital Market Trust Fund and the Dormant Account Trust Fund to be redirected to NELFUND.

The development comes as the student loan programme continues to expand. As of August 2026, NELFUND said it had disbursed more than N322 billion through over 1.6 million student loan applications.

NELFUND Board Chairman, Jim Ovia, expressed appreciation to Tinubu for his continued support, saying the move would help make access to higher education more inclusive and sustainable.

The Fund’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, also thanked the President for his efforts to remove financial barriers preventing Nigerian students from accessing higher education.

Sawyerr said the initiative demonstrated the government’s commitment to using education as a tool for national development and would strengthen efforts to build a sustainable student financing system.

NELFUND assured the government that it would continue to manage resources entrusted to it responsibly and transparently, while working to extend financial support to more eligible Nigerian students.

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