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Managing Director of the Nigeria Education Loan Fund, NELFUND, Akintunde Sanya, has stated that thousands of students from Kwara State have benefitted from the federal government’s student loan scheme, with approximately N900 million already disbursed to public institutions in the state.

Speaking in Ilorin, the Kwara State capital, through the Director of Operations, Mustapha Iyal, during a sensitisation programme for tertiary institution students in the state, Sanya revealed that the agency has received 400,000 applications from Nigerian institutions since the launch of its operations, 70 per cent of which have been approved.

The event, themed “Empowering Students Through Financial Inclusion and Entrepreneurship,” was organised by NELFUND in collaboration with the Office of the Special Adviser to the Governor on Education, Policy Formulation and Human Capital Development, Dr Adetola Ariyike Salau.

In his speech, Governor Abdulrahman AbdulRazaq said the federal government’s student loan policy offers hope to children from low-income families, enabling them to access quality higher education.

AbdulRazaq commended President Bola Ahmed Tinubu for the initiative, noting that it would tackle a major challenge hindering young people from acquiring tertiary education.

He added that his administration is partnering with NELFUND on sensitisation efforts to ensure that students across educational institutions in the state benefit from the scheme.

“There is a lot to be grateful for. The federal government has created this opportunity to address a major challenge—lack of funding—which prevents many youths from accessing quality education. This initiative is not just about money but about empowerment,” the governor said, through his representative, Dr Salau.

“We will be rolling out more programmes, including mentorship and skills development initiatives across various centres in the state. It is crucial that students acquire the right skills to be employable after graduation. Our partnership with NELFUND will ensure this programme is effectively implemented.”

Vice Chancellor of the University of Ilorin, Prof Wahab Egbewole, described the initiative as a relief for parents responsible for paying their children’s tuition fees.

Represented by Deputy Vice-Chancellor (Management Services), Prof Adegboyega Fawale, Egbewole urged students to enrol en masse and take advantage of the opportunity.

Meanwhile, Vice Chancellor of Muhammad Kamaldeen University called on the federal government to explore ways to incorporate private institutions into the NELFUND scheme, stating that their students, as bona fide Nigerians, should also benefit.

Other speakers at the event, including deans of student affairs from various institutions, encouraged students to explore the loan scheme to further their education and enhance their career prospects.