- He disclosed that NELFUND, which operates as an interest-free student loan scheme, has so far supported over 788,000 students
- He reaffirmed the Fund’s commitment to transparency and accountability
- According to him, the initiative has eased the financial burden on students and their families
A member of the Board of the Nigerian Education Loan Fund (NELFUND), Alhaji Umar Lawal, has said the establishment of the Fund has significantly reduced student dropout rates in tertiary institutions across Nigeria.
Eko Hot Blog reports that Lawal credited President Bola Ahmed Tinubu for repositioning and strengthening the Fund, describing it as one of the most impactful interventions in the nation’s education sector.
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In a statement released on Sunday, Lawal said thousands of students who would have abandoned their education due to financial difficulties are now able to continue their studies with renewed confidence.
He disclosed that NELFUND, which operates as an interest-free student loan scheme, has so far supported over 788,000 students, disbursing loans and stipends exceeding ₦150 billion nationwide.
According to him, the initiative has eased the financial burden on students and their families, thereby improving access to higher education and boosting enrollment levels.
“The introduction of NELFUND provides a sustainable solution to long-standing challenges of dropout and limited access to tertiary education,” Lawal stated.
He added that the programme aligns with the President’s Renewed Hope Agenda, which prioritises inclusive development and human capital growth.
Lawal also praised the inclusion of monthly upkeep allowances, noting that the support goes beyond tuition to cover students’ basic living expenses, enabling them to focus on their academic pursuits.
He reaffirmed the Fund’s commitment to transparency and accountability, assuring students that NELFUND will continue to work toward the sustainability and success of the scheme.
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