By Boluwatife Oshadiya | March 3, 2026
Key Points
- NELFUND extends its student loan application portal after surge in nationwide demand
- Fund records 1.69 million applications and ₦183.8 billion in disbursements at initial deadline
- Institutions yet to commence 2025/2026 session must formally request extension
Main Story
The Nigerian Education Loan Fund (NELFUND) has extended the deadline for its Student Loan Application Portal following a sharp rise in applications driven by its nationwide sensitisation campaign.
The extension follows a reminder issued last week that the portal was scheduled to close on February 27, 2026. In a statement signed Monday by Oseyemi Oluwatuyi, Director of Strategic Communications, the Fund confirmed that additional days have been approved to accommodate eligible students who are yet to complete their submissions.
“The Nigerian Education Loan Fund has approved an extension of its Student Loan Application Portal following a significant increase in awareness and nationwide demand generated by its ongoing sensitisation campaign,” said Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND.
He added that the additional window would ensure all qualified applicants are given adequate opportunity to finalise their applications, pending further management decisions and communications.
According to the Fund, the extension primarily targets students requiring extra processing time, prospective applicants newly informed about the scheme through recent outreach efforts, institutions that have just commenced the 2025/2026 academic session, and schools yet to submit verified student lists.
NELFUND Managing Director and Chief Executive, Akintunde Sawyerr, said the decision aligns with the agency’s mandate to expand access to tertiary education financing.
“Our sensitisation efforts across the six geopolitical zones have significantly increased awareness and participation. Therefore, in line with our mandate to expand access to tertiary education financing, we have approved an extension to ensure that all eligible students have a fair and equal opportunity to apply,” said Akintunde Sawyerr, Managing Director and Chief Executive, NELFUND.
Institutions that have not begun the 2025/2026 academic session have been advised to submit official extension requests alongside their approved academic calendars. Students are encouraged to complete applications through the official portal before the revised closing date.
At the close of the original deadline on Friday, the Fund reported 1.69 million applications and total disbursements of ₦183.8 billion.
NELFUND was established to administer the Nigeria Student Loan Scheme enacted into law by President Bola Tinubu in April 2024. The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses, with repayment structured to commence after graduation and employment.
What’s Being Said
Officials maintain that the extension reflects administrative responsiveness rather than operational delays.
“We remain committed to transparency, accountability, and providing sustainable student financing solutions aimed at removing financial barriers to higher education in Nigeria,” said Oseyemi Oluwatuyi, Director of Strategic Communications, NELFUND.
Education analysts say the high volume of applications underscores latent demand for structured financing in Nigeria’s tertiary education sector, particularly among students from low-income households.
What’s Next
- NELFUND is expected to announce a revised closing date after completing internal management reviews
- Institutions yet to submit verified student lists must regularise documentation before portal closure
- Additional disbursement updates are anticipated in the next quarterly operational report
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