NELFUND Assures of Easier Access to Loans Through Tech-driven Platform

Kuni Tyessi in Abuja

The Nigerian Education Loan Fund, NELFUND has assured Nigerian students of its commitment to building a technology-driven system to enhance seamless access to its loan services.

This assurance was given by the Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, during a stakeholders’ engagement session and technical workshop held in Abuja with representatives from polytechnics, monotechnics, and institutes.

Sawyerr revealed that more than 320,000 students have already received funding, while many more are currently undergoing verification. He emphasized that NELFUND’s mission is not only to disburse loans but to ensure that every willing young Nigerian, regardless of their background or location, can access education without financial barriers.

“For too long, students in technical institutions have faced steep financial obstacles. Some drop out, while others never even apply due to a lack of means,” Sawyerr said. “This is the gap NELFUND seeks to close. But we can’t do it alone. It requires collaboration with government bodies and the private sector.”

Highlighting the Fund’s goals, he stated that NELFUND is developing a platform characterized by transparency, accountability, and efficiency. The aim is to enable students to apply with confidence, institutions to verify swiftly, and funds to be disbursed in a timely and fair manner.

“We’re aiming for access without stress—a platform students can use with confidence,” he added. “Transparency and trust are key, so that no one is left wondering about their application status. This system must reflect real-world conditions, not just assumptions.”

He praised the technical institutions for their role in developing skills, building careers, and supporting communities. Sawyerr emphasized the importance of institutional feedback and cooperation in shaping a loan system that is responsive and effective.

“To NBTE, we recognize your leadership in technical education. Your collaboration is essential as we advance the integration of NELFUND systems,” he noted.

Also speaking at the event, NELFUND’s Executive Director of Operations, Mr. Iyal Mustapha, reaffirmed that over 320,000 students have already been paid, and verifications are ongoing for more applicants. He explained that of the 576,000 students registered on the NELFUND portal, only 516,000 completed their applications.

“The difference stems from incomplete processes—some due to lack of data, others from disinterest or system testing. We want to close this gap,” Mustapha said. “With institutional support, we can ensure more students complete the process and access both the upkeep loan, which offers N20,000 monthly, and the institutional loan, which is paid directly to schools.”

He emphasized that institutions play a key role in verifying student information and enabling the disbursement process. He announced that NELFUND is exploring technical integration with institutional portals through APIs, which would allow seamless access to student data directly from the schools’ systems.

“Our goal is to eliminate redundant data collection. We are considering deploying IT personnel to institutions to facilitate integration,” Mustapha stated. “Ideally, students could apply for loans through their institution’s portal during registration or payment processes, with schools validating the data. Once confirmed, we disburse funds directly to institutions.”

This proposed system, he added, would simplify and accelerate the loan process, removing barriers for students and minimizing administrative delays.

As the workshop continued, both NELFUND leaders urged participants to engage fully, provide candid feedback, and contribute to building a functional, sustainable, and transformative education financing system.

“At the heart of all this is the student—a young Nigerian with dreams and the courage to pursue them,” Sawyerr concluded. “Everything we do must serve that student.”

The stakeholders’ engagement marks a pivotal step in NELFUND’s efforts to modernize educational funding and extend opportunity to every qualified Nigerian learner.