The number of student loan applications from the South-East and South-South regions remains low, according to NELFUND.
According to data from NELFUND as of May 4, 2025, there were just 27,098 loan applications from the South-East region, while the South-South region had 37,180 applications from students.
The North-West region leads with the most applicants, totaling 157,831 students. This is followed by the North-East, which has 127,058 applicants. The South-West recorded 92,850 applicants, and the North-Central region had 74,120 applicants.
The agency explained the low number of applications as being due to students’ skepticism about the authenticity of the loan scheme.
During the inauguration of a three-day engagement session and technical workshop in Abuja on Monday, Iyal Mustapha, the Executive Director of Operations at NELFUND, provided the figures while addressing stakeholders. This session focused on system automation and the loan application process for leaders of tertiary institutions.
Akintunde Sawyerr, Managing Director and CEO of NELFUND, urged the South-South and South-East regions to enhance their involvement in the student loan program.
He said, “We are not here today merely to discuss another government initiative. We are here to activate a national transformation in how we fund, manage, and support access to higher education in Nigeria.
“As many of you know, the Student Loan Initiative is in perfect alignment with the Federal Government’s vision—to make quality education accessible to all Nigerians, regardless of socioeconomic background.
“I want to emphasise that what we are building here is not just a loan platform. We are building a foundation for national development. A Nigeria where every young person with ambition can access the education they deserve.
“Let us engage today not just as participants, but as co-creators of a better, smarter future for higher education financing in Nigeria.”
Ifeoluwa Ehindero, who chairs the House Committee on Student Loans, Scholarships, and Higher Education Financing, emphasized that for the system to function effectively, it is essential to modernize and simplify the methods used to manage, track, and distribute these funds to deserving students.
He said, “This is essential for the success of the initiative and will go a long way in ensuring that our students benefit in a timely and accountable manner.
“As members of the House of Representatives Committee on Student Loans, we have been working tirelessly to ensure that the legislative framework supports and facilitates these reforms. However, legislative efforts alone are not enough.
“We need your expertise, your feedback, and your active participation to make sure that we have a system that works for everyone, from the students applying for loans to the institutions managing the funds.
“This workshop is not just a platform for training but also an opportunity for collaboration. As you interact with the NELFUND system, your insights into how we can improve its functionality will be invaluable in helping us refine and enhance it to meet the needs of our institutions and students.