Kehinde Fajobi
The Nigerian Education Loan Fund (NELFUND) has projected that the number of beneficiaries under its student loan scheme could reach 2.1 million, according to its Managing Director, Akintunde Sawyerr.
Sawyerr made this disclosure on Tuesday during the inauguration and induction of members of the SERVICOM unit and committee in Abuja.
This projection comes just a week after NELFUND revealed it had disbursed over ₦104 billion to 613,734 students from Nigerian tertiary institutions.
The funds include institutional fees paid directly to schools and upkeep loans deposited into applicants’ accounts.
Speaking to journalists, Sawyerr stated that the expected admission of approximately 400,000 new students this year could drive the total number of registrants to the 2.1 million mark.
“For the people we are responsible for in tertiary institutions that are government-owned, such as polytechnics, universities, and colleges of education, and with the bulk of students coming in for the next session, we estimate our commitment today to be somewhere in the range of 2.1 million,” Sawyerr explained.
He added, “It is an estimate, and it could grow larger once we commence our skills programme. We are anticipating about 400,000 students starting this new session.”
When asked if the loan scheme would also cater to Nigeria’s estimated 20 million out-of-school children, Sawyerr clarified that the programme is strictly for tertiary education as outlined in the enabling Act.
“The Act that established NELFUND is very specific—it is for tertiary education. While we recognise there may be 20 million out-of-school children in Nigeria, the law limits us to addressing those studying or about to begin studies in government-owned tertiary institutions,” he said.
He noted that around 417,000 students have registered on NELFUND’s portal, with 328,000 submitting applications.
“Some applications have been processed, many reviewed, and most will receive the loan,” Sawyerr assured.
In her address, the National Coordinator and Chief Executive Officer of SERVICOM, Mrs Nnenna Akajemeli, called for collaboration among inductees to ensure a seamless student loan process.
SERVICOM is a government initiative aimed at improving service delivery across ministries and agencies.
“Wherever Nigerian students go, they stand out. So we need to continue encouraging them. It is also our job to build the skills of public servants for excellent service delivery,” Akajemeli said.
She commended NELFUND for its collaboration with SERVICOM, stating, “For you to go fast, you can walk alone. But to go far, NELFUND needs to walk together as a team.”