By Ogene Romanus Chizoba;
September 5, 2026
‼️WATCH‼️👇🏾👇🏾
https://youtu.be/m8BfC7-T_J0?si=EasbXUAnu2--eO1q
The Managing Director and Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has used an exclusive appearance on TVC Breakfast Saturday to highlight the growing impact of the Federal Government’s student loan scheme and ongoing efforts to sustain access to higher education for Nigerian youths.
During the interview, Sawyerr discussed the progress recorded by NELFUND, including the large number of applications processed and the billions of naira already deployed to students and tertiary institutions.
NELFUND’s latest dashboard shows that 1,659,853 applications have been processed, while cumulative disbursements have reached ₦355.87 billion, comprising payments for institutional fees and student upkeep allowances.
A key aspect of the conversation was the Federal Government’s decision to channel recovered proceeds of crime into productive social investments. The EFCC has confirmed that ₦50 billion from recoveries was allocated to NELFUND, while a further ₦50 billion allocation was approved in 2026.
Sawyerr also addressed the long-term sustainability of the programme, noting that NELFUND currently faces a substantial monthly financial obligation for student upkeep while loan recoveries from beneficiaries have not yet commenced. Recent reports indicate that the Fund is exploring multiple funding sources to maintain the scheme.
The TVC appearance offered Nigerians a broader perspective on the student loan initiative, its achievements, challenges, funding requirements and its potential to continue breaking financial barriers to tertiary education.
The conversation also reinforced the significance of President Bola Ahmed Tinubu’s student financing policy, particularly the decision to redirect recovered public funds towards education, ensuring that proceeds recovered from economic crimes can contribute to opportunities for young Nigerians.
With applications approaching 1.66 million and disbursements already exceeding ₦355 billion, the NELFUND intervention continues to represent one of the Federal Government’s most significant initiatives for expanding financial access to higher education.
By Ogene Romanus Chizoba
