NELFUND expands education loan scheme to vocational training, disburses N116bn to students
The Nigerian Education Loan Fund (NELFUND) says it is preparing to broaden its student loan initiative to include vocational and technical training programmes, even as it confirmed that N116 billion has so far been released to support students’ fees and living expenses across the country.
Managing Director of the Fund, Akintunde Sawyerr, disclosed both developments in Abuja during an interview with the News Agency of Nigeria (NAN).
He said the planned expansion into skills-based education aligns with the Federal Government’s drive to strengthen human capital by supporting not only university education but also hands-on technical expertise.
According to him, President Bola Tinubu’s administration recognises that national development depends on a workforce equipped with both intellectual and practical abilities.
“A nation does not grow on theory alone,” he said, stressing that Nigeria needs people capable of translating ideas into physical results—whether in construction, technology, or creative trades.
Sawyerr explained that although NELFUND began by funding students in universities, polytechnics, and colleges of education, the next phase is aimed at bringing trainees in vocational and skills-acquisition centres into the scheme.
He noted that various ministries, Youth Development, Education, and Digital Economy were already implementing programmes in technical and digital skills, signalling government-wide commitment to the sector.
He described Nigeria’s current development stage as one that requires professionals who can “design, build, and operate,” adding that technical competence will be as crucial as academic qualifications in the coming years.
While outlining these future plans, Sawyerr also provided an update on the scale of the loan scheme so far.
He revealed that 1,067,000 applications have been received since the programme commenced, with 624,000 students already benefiting.
Of the N116 billion disbursed to date, N65 billion was transferred directly to 239 federal institutions, covering approved students’ tuition and other charges.
The remaining N51 billion was paid out as monthly upkeep allowances to beneficiaries.
He described the disbursement as a major milestone for the administration, noting that the loans were designed to ensure that no Nigerian is denied tertiary education because of financial constraints.
Sawyerr emphasised that student engagement remains high nationwide, adding that NELFUND would continue to administer the scheme with strict transparency and efficiency as more applications come in and new categories such as vocational training were added.
According to him, extending support to technical trainees will further strengthen the government’s broader goal of producing a skilled and globally competitive workforce.
