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From Fred Ezeh, Abuja
The Nigerian Education Loan Fund (NELFUND) has announced that over N206bn has been disburseed to students in 270 institutions nationwide, within 23 months of its launch by President Bola Tinubu.
A breakdown of the disbursement shows that N128.84bn was paid directly to 270 beneficiary institutions as tuition fees, while N77.45bn was released to students as upkeep allowances.
NELFUND, in a statement, on Tuesday, said the figures indicated acceptance and growing impact on students, and also shows that 1,751,669 applications have been received since the portal opened in May 2024, out of which 1,164,222 students have successfully benefited from the scheme.
“This is to ensure that both academic costs and living expenses are addressed, thus making higher education more accessible to indigent students,” it noted.
The statement noted that NELFUND has maintained steady growth, recording 969 new applications in its most recent update that represented a 0.1 per cent increase, an indication of sustained interest and public confidence in the programme.
Managing Director of NELFUND, Akintunde Sawyerr, assured Nigerian students that no eligible beneficiary of the education loan scheme would be barred from sitting for examinations due to financial constraints.
He explained that the scheme, introduced by President Tinubu, was designed to eliminate financial barriers to tertiary education through interest-free loans with flexible repayment terms.
“We started the scheme of the President, Bola Ahmed Tinubu, to provide students with interest-free loans to ensure that the situation we’ve had in this country for so long, where so many could not commence tertiary education or are forced to drop out because of lack of funds, is addressed,” he said.
He further noted that while NELFUND is committed to swift disbursement, government funding necessitates strict institutional processes to prevent misappropriation.
Sawyerr, in a recent statement by the Director of Strategic Communication at NELFUND, Mrs. Oseyemi Oluwatuyi, commended the management of Delta State University, Abraka, for its student-friendly directive.
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The directive, issued via an internal memorandum from the Office of the Deputy Vice-Chancellor (Academic), permitted students whose NELFUND status read “Verified” or “Disbursed” to sit for their first semester 2025/2026 examinations upon presenting evidence of their NELFUND status.
Sawyerr described the move as a commendable example of institutional collaboration in support of Nigerian students.
“We warmly welcome this student-centred approach by Delta State University. It reflects a clear understanding of the purpose of the NELFUND scheme, which is to ensure that no Nigerian student is denied access to education because of financial constraints.
“At NELFUND, we are pleased to see institutions taking practical, youth-friendly steps that allow students who have successfully completed the application process to continue their academic activities without disruption,” he said.
He added that such actions reinforce the broader objective of the NELFUND programme to expand access to higher education while promoting fairness and inclusivity across Nigeria’s tertiary institutions.
Meanwhile, the Tinubu Media Support Group (TMSG) described the achievements of NELFUND as a major milestone and a transformative intervention in Nigeria’s education sector.
Chairman of TMSG, Emeka Nwankpa, and Secretary, Dapo Okubanjo, said the Fund has emerged as a key driver of the Renewed Hope agenda of President Tinubu, particularly in promoting inclusive access to higher education.
The group commended NELFUND’s management for sustaining transparency and public engagement, and expressed optimism that the number of beneficiaries would significantly increase before the end of the administration’s first term.
It also urged Nigerians to continue supporting government initiatives aimed at promoting inclusive growth and human capital development across the country.
