By JOHN ONAH, Abuja –
The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr,
has restated the commitment of the Fund in providing inclusive access to loan by all students who gained admission through the Joint Admissions and Matriculation Board (JAMB).
Sawyerr gave the assurance in Abuja on Tuesday at the Stakeholders Engagement Session/Technical Workshop on the Fund’s System Automation and Loan Application Processes.
His clarification follows concerns raised by stakeholders from technical institutions, particularly those in two-phase diploma programmes, over their inability to access the loan within the timelines of their students’ academic programmes.
While acknowledging initial challenges, he emphasized the Fund’s commitment to close the gaps and ensure that technical students access the loan as and when due.
“For too long, many technical students have faced steep financial barriers. Some drop out. Others never apply. This is the gap we’re here to close.
“When you launch a project of this magnitude, you do all the preparation you can, then launch it into the marketplace to see the level of engagement and issues, and then refine it.
“This isn’t just about teething problems. It’s about ensuring that the system evolves with feedback, technology, and user needs,” Sawyerr said.
The workshop, which brought together representatives from polytechnics, monotechnics, and technical institutes, focused on automation of NELFUND’s loan application and processing systems.
The NELFUND boss hailed technical institutions as “the engine rooms of innovation and expertise,” calling the workshop a pivotal move in bridging educational financing gaps.
He stressed that the mission of NELFUND goes beyond disbursement, it is about enabling equitable opportunity.
“We want access without stress, transparency and trust, and partnerships with purpose,” he told participants.
He also commended the National Board for Technical Education, NBTE, for its role in regulating the sector and called for continued collaboration in integrating institutional systems with NELFUND’s processes.
“At the heart of all this is a student, a young Nigerian with dreams, ambitious, and the courage to pursue them. Everything we do must serve that student,” he said.
“It’s a loan, not a giveaway. Students must make informed decisions about when and why to take it. It’s not just about getting a loan, it’s about investing in a path that propels your future.”
On the latest data on student application for loan, he said NELFUND has recorded approximately 570,000 registrations, with over 515,000 applicants completing the process.
He added that daily applications now average around 1,800, stating that the speed of application won’t compromise standards.
“We aim to process loans as fast as it is safe for the Fund. We are managing government and stakeholder funds and must conduct thorough due diligence,” he said.
In a presentation, the Fund’s Executive Director Operations, Mr Iyal Mustapha, urged higher institutions in the country to prioritize data accuracy, timely verification, and effective communication with students.
Mustapha emphasized the agency’s three-pronged mission: reducing the financial burden on students, promoting access to education for all qualified Nigerians, and ensuring prompt disbursement of institutional charges to schools.
According to him, students must first apply for the loan via the dedicated portal, once applications are submitted, NELFUND checks for eligibility and sends the applicant lists to respective institutions for verification.
He added that only upon confirmation from the schools will funds be disbursed directly to institutions for tuition and other charges.
He also noted that upkeep allowances, however, are paid straight into students’ bank accounts.
