By Felix Khanoba
The Nigerian Education Loan Fund (NELFUND) has reaffirmed its commitment to creating a technology-powered system designed to simplify and accelerate access to student loans.
According to the fund, over 320,000 students have already received disbursements, while thousands more are currently undergoing verification to qualify for payment.
Managing Director and Chief Executive Officer of NELFUND, Mr. Akintunde Sawyerr, gave the assurance on Tuesday in Abuja at a stakeholders’ engagement and technical workshop focused on system automation and the loan application process.
The session brought together representatives from polytechnics, monotechnics, and institutes across the country.
Sawyerr emphasized that NELFUND’s goal is to build a transparent, user-friendly platform that enables students to access loans confidently and efficiently.
He stated: “At NELFUND our mission goes beyond giving loans. It’s about opening doors, it’s about making sure every young Nigerian who is willing to learn and grow has a real shot regardless of their background, location, or chosen path of study.
“For too long, many students, especially in technical institutions, have faced steep financial barriers; some drop out, others have never even applied. This is the gap we at NELFUND are here to close. But we know we can’t do it alone.
“This is a shared mission. It belongs to all of us, government institutions and the private sector alike. This technical workshop marks a major step forward.
“We’re not only providing financing, we’re building a technology-driven system that makes it easier for students to apply, for institutions to verify, and for funds to be disbursed with speed, fairness, and accountability.
“We’re aiming for access without stress, a platform students can use with confidence; transparency and trust so that no one is left wondering where their application stands; partnership with purpose because your feedback, your data, and your cooperation are critical to making this work. We rely on you as our institutional partners to help us bring this vision to life.”
Sawyerr commended the institutions for their longstanding role in providing technical expertise and hands-on training that not only supports industries but uplifts communities.
“You know your students, you understand their struggles, your insights will help us tailor this system to reflect the realities on ground, not just assumptions on paper.
“To NBTE, we value your steady leadership in shaping and regulating technical education. Your collaboration is key as we move forward fully.”
He urged the institutions to collaborate with NELFUND in delivering a system that is not only functional and sustainable but transformative.
“As we move forward fully, integrating NELFUND processes with institutional systems and standards, let us remember at the heart of all of this is a student, a young Nigerian with dreams, with ambition, and the courage to pursue them. Everything we do must serve that student.
“The only way to make it happen is by working together, listening to one another, and staying grounded in real-world challenges. I encourage you all to engage fully today, share what’s working and what is not, and together let’s build something that lasts.”
Also speaking, NELFUND’s Executive Director of Operations, Mr. Iyal Mustapha, confirmed that alongside the 320,000 students who have already received loans, further verifications are ongoing to process more payments.
Mustapha explained that discrepancies between the number of registered students and successful loan applicants were largely due to issues on the students’ end, highlighting the need to address this gap.
He revealed that the fund is exploring direct integration with institutional portals to streamline data collection and enhance the loan process.
“One other thing that we’re trying to do going forward is to send some of our IT to all the institutions so that we can see how possible it is we connect directly to your portal instead of saying please send us data. How can we connect using an API which makes it easier to get the data of any student coming to us directly from your portal and not from our portal. So we don’t need to be collecting any data again.
“At the same time, we’re thinking of seeing how is it possible that a student can apply to your portal without coming to us. So it makes it so easy for the student when they’re doing registration, when they’re doing payments, they can select either to apply for NELFUND loans and the process will go through your portal. So you have all the data without ever reaching to NELFUND. All we need is for you to give assurance these are your students and if we have that, we pay you directly. It makes it simpler and faster for all the students.”
