The Nigerian Education Loan Fund (NELFUND) is taking a major step to simplify student loan access by planning to deploy IT teams across tertiary institutions in Nigeria. The goal is to directly integrate loan application systems with each school’s student portal, allowing learners to apply for loans without leaving their institutional platforms.
NELFUND’s Managing Director, Akintunde Sawyerr, made this known during a stakeholder engagement and technical workshop held in Abuja. He explained that the new approach would eliminate the need for students to use NELFUND’s separate platform, creating a smoother, more user-friendly application process.
“We’re exploring the possibility of deploying our IT teams to institutions to enable direct connection with your portals,” Sawyerr said. “Ideally, students should be able to apply via your platforms without having to come through NELFUND, making the process smoother and more accessible.”
He emphasized the importance of institutional collaboration, noting that the success of the student loan scheme depends on strong partnerships with schools. According to him, the integration process must prioritize transparency, efficiency, and the needs of the students.
“At the centre of all this is the student,a young Nigerian with dreams and ambition. Everything we do must serve that student,” he added. “The only way forward is through collaboration, open communication, and practical solutions.”
Sawyerr also highlighted the financial struggles that have plagued many students, particularly those in technical institutions, who are often forced to abandon their education due to lack of funds. He stressed that NELFUND’s mission is not just about disbursing loans but ensuring real access to education for all Nigerian youths, regardless of background or location.
“For too long, students have had to drop out or never apply at all because they couldn’t afford it. That’s the gap we aim to close,” he said.
Also speaking at the workshop, NELFUND’s Executive Director of Operations, Iyal Mustapha, provided insight into the current state of funding. He revealed that over 320,000 students have already received loans, while more applications are still under verification.
“We have 576,000 registrations on our portal, but only 516,000 completed applications. Some may have dropped out due to data issues or just wanted to test the system,” Mustapha noted.
He clarified that the institutional loan, which covers academic fees and is disbursed directly to institutions, is separate from the monthly N20,000 upkeep loan. Mustapha encouraged more collaboration from schools to help close the application gap and expand access.
With the proposed integration of student loan systems and institutional portals, NELFUND is signaling a new era of accessible, student-centered financial support one built on partnership and the shared goal of ensuring that no Nigerian student is denied education due to financial hardship.
