The Federal Government of Nigeria, through the Nigerian Education Loan Fund (NELFUND), has announced that the portal for student loan applications will officially open on May 24, 2024. This significant development aims to support accessible and inclusive education for all Nigerian students, reflecting President Bola Tinubu’s commitment to fostering educational opportunities.
The announcement was made in a statement signed by Nasir Ayantogo, the media lead for NELFUND. The portal’s launch is seen as a major step forward following the signing of the Access to Higher Education Act, 2023, by President Tinubu on June 12, 2023. The Act, also known as the Students Loan Law, enables indigent students to access interest-free loans for their education in any Nigerian tertiary institution.
This initiative is part of Tinubu’s campaign promise to liberalize funding for education. The Act established the Nigerian Education Loan Fund to handle all aspects of loan processing, including requests, grants, disbursements, and recoveries.
Initially, the scheme was scheduled to launch in September but faced delays, resulting in an indefinite postponement in early March. The Presidency attributed the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.
After a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu instructed the Fund to extend interest-free loans to students interested in skill-development programs.
The newly launched portal will provide a user-friendly interface for students to submit their loan applications conveniently. The government encourages all eligible students to take advantage of this opportunity to pursue their academic aspirations without financial constraints.
Students can access the application portal at [www.nelf.gov.ng](http://www.nelf.gov.ng) starting from May 24, 2024.
“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation,” the statement read.
