The Nigerian Education Loan Fund (NELFUND) has extended the application deadline for the 2025/2026 academic session to February 27, 2026.

The extension was announced in a statement issued in Abuja on Thursday, in which the Fund said the deadline was moved from the initial January 31, 2026, date to allow prospective applicants additional time to complete and submit their applications.

According to the Director of Strategic Communications, Oseyemi Oluwatuyi, the decision was taken to ensure that no eligible student is excluded from the process due to timing constraints.

“The Nigerian Education Loan Fund has announced an extension of the application deadline for the 2025/2026 academic session from January 31, 2026, to February 27, 2026,” the statement read in part.

Speaking on the development, the Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, said the extension underscores the Fund’s commitment to inclusivity and equal access to education.

“This extension reflects our commitment to inclusivity and access. We understand that some applicants may require additional time to complete their submissions, and this decision ensures that every eligible Nigerian student has a fair opportunity to benefit from the Fund,” Sawyerr said.

NELFUND urged students who are yet to apply or complete their applications to take advantage of the extended deadline and ensure that all required information is submitted on or before February 27, 2026.

The Fund was established to administer the Nigeria Student Loan Scheme, which was signed into law by President Bola Ahmed Tinubu in April 2024. Under the initiative, the Federal Government provides interest-free loans to students in public tertiary institutions to support the payment of tuition fees and living expenses.

Applications for the scheme opened in May 2024 as part of efforts to remove financial barriers to higher education and support students from low-income backgrounds. Beneficiaries are required to repay the loans after completing their studies and securing employment.

As of January 29, 2026, a total of ₦174,561,719,810 has been disbursed under the student loan scheme.

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President Bola Tinubu has approved N35 billion for the take – off of the student loan scheme.

So far, 70, 000 applications have been approved by the Nigerian Education Loan Fund (NELFUND).

Another 50, 000 applications are currently being evaluated and would be approved within 30 days.

According to the Managing Director/Chief Executive Officer, NELFUND, Akintunde Sawyerr, the funds will be disbursed based on the timetable and calendars of the academic session of each institution.

He said: “The funds will be disbursed based on the timetable and calendars of the academic session of each institution. The portal for students to apply for the loan opened on May 24, 2024.

“The portal will be permanently open because institutions don’t have a uniform calendar,” Sawyerr added.

No fewer than 1.2 million students are expected to benefit from the cardinal programme of the Tinubu administration.

Applicants are required to provide their Joint Admissions and Matriculation Board (JAMB) letter, National Identification Number (NIN), and Bank Verification Number (BVN).

Students in Federal Government-owned tertiary institutions will be the first batch of beneficiaries of the loan scheme.

Those from state-owned tertiary institutions will benefit from the scheme too.

The agency said it would start receiving applications from students in state-owned tertiary institutions from June 25, 2024.

The loan, which is an equivalent of the tuition fees of the benefitting students, would be paid directly to their institutions.

But stipends would be paid directly to beneficiaries on a monthly basis to assist them buy other things that can make them comfortable while pursuing their education.

The agency is working with 126 tertiary institutions on the scheme.

The source said: “President Bola Tinubu has graciously approved N35bn for the student loan scheme. The funds are awaiting disbursement.

“About 70, 000 applications have been approved by NELFUND management. 50, 000 applications are currently being evaluated. These applications will be approved within 30 days.

“We receive an average of 1,500 applications a day.

“Mr President has provided enough funds to accommodate every Nigerian student who desires the loan.”

President Tinubu on April 3 signed into law the bill on the scheme in line with his electoral promise that no Nigerian student would drop out of school on account of lack of funds.

According to the law, repayment will commence two years after the completion of the National Youth Service Corps (NYSC) programme.

The ambitious cardinal programme will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).

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As the world shift from certificate to skill acquisition, the Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE has advised the Nigerian Education Loan Fund (NELFUND) the administrator of the student loan initiative programme of the current administration to consider accommodating Nigerians who want to enroll in short courses that will equip them with digital skills.

Mr. Kashifu Inuwa, who made this known in Abuja while receiving a delegation from NELFUND led by the Executive Secretary Mr Akintunde Sawyer said this will empower citizens with high-in-demand global skills that will position Nigeria as a hotspot for brain export.

The purpose of the meeting was to learn, collaborate, and present a demo of the NELFUND Portal to NITDA for input.
He stated that because no one succeeds in isolation, it is important to take into cognisance., the role of the five critical stakeholders of the ecosystem and synergise with them.

He mentioned that these stakeholders include, higher institutions of learning, corporate organisations, entrepreneurs, venture capitalists, and the government.

He said, “Higher institutions of learning produce the human capital, so they need to be worked with closely because they need to understand the skills in demand; corporate organisations absorb the human capital by employing them or buying products from entrepreneurs, so if there is a gap between the institution and corporate organisation, it will be difficult to place graduates on jobs as most of our graduates cannot fit into the private sector unless undergoing these short courses.”

While acknowledging that NITDA is working with the Federal Ministry of Education to review the curriculum of tertiary institutions to meet, Inuwa said, “For Entrepreneurs, they could be students, dropouts, or anybody who has an idea that meets a need and that students should be trained with the mindset that they are acquiring certificates to create jobs and not just to seek white-collar jobs.”

He stated that venture capitalists should be encouraged to invest, as Nigeria’s technology ecosystem attracts more than 30 percent of Foreign Direct Investment (FDI).

He said, “70 per cent of that investment comes from the United States while we have Nigerians who have money; that is why we are trying to set up the seed funding for startups that will encourage indigenous venture capitalists.”

The NITDA boss commended the work put into the development of the NELFUND portal as he said the portal should be made mobile friendly as there are many people that will access the portal through their mobile phones.

He further stated, “We can organise a user acceptance test to check vulnerability to ensure that it is okay. I also want to advise that you carryout the Data Protection Compliance Test to ensure you are complying with the Nigeria Data Protection Regulations (NDPR).”

Kashifu assured NELFUND of the Agency’s commitment to giving them all the necessary support as their interest aligns with NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0).

The Executive Secretary of NELFUND Mr Sawyer said, the initiative intends to connect as many Nigerians as possible to the fund in order to obtain tertiary education and pay back after their one year mandatory National Youth Service programme.

He said, “Our mission is to strive to revolutionise higher education accessibility in Nigeria by providing interest-free loans to eligible students. We want to help as many people as possible get to the next level as it will benefit the individual, institutions, and the nation at large.”

The ES said they have come to be challenged by NITDA in other to do better, collaborate, and learn from the Agency.

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The Federal Government has announced its commitment to developing an app for student loan applications, aiming for a streamlined process. Executive Secretary Akintunde Sawyer of the Student Loan Scheme Board revealed this after a meeting with President Bola Tinubu in Abuja on Monday.

Sawyer emphasized that the app aims to eliminate human intervention, enhancing efficiency in the student loan scheme scheduled to kick off this year.

“By design, this is a perpetual programme and will not terminate. The funds, earmarked for bonafide Nigerian students, will be disbursed directly to the institutions in the initial phase through electronic transfer. Our students will be catered to in a way that bypasses human interference through the full utilisation of available technological platforms, in adherence to Your Excellency’s stated objectives,” the statement quoted him as saying.

He said NELFUND has developed a robust risk-mitigation mechanism to address potential risks that may arise from the programme.

The move aligns with Tinubu’s earlier declaration that the scheme would commence in January 2024.

During the National Economic Summit 2023 in Abuja, President Tinubu assured students, stating, “By January 2024, the new student loan must commence. To the future of our children and students, we are saying no more strikes,” signaling a commitment to addressing educational challenges.

The student loan bill, signed by President Tinubu on Nigeria’s Democracy Day, was initially proposed by Speaker Femi Gbajabiamila.

The bill, now part of Chief of Staff Gbajabiamila’s achievements, facilitates access to interest-free loans from the Nigerian Education Loan Fund, domiciled in the Ministry of Education, exclusively for indigent students in tertiary institutions.

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