NELFUND Disburses ₦161.97bn to 864,798 Students Nationwide
The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦161.97 billion to 864,798 students across the country, providing financial support for tuition fees and upkeep allowances.
According to the fund, the disbursement forms part of the Federal Government’s effort to expand access to higher education and ease the financial burden on students from low- and middle-income households. The loans cover tuition paid directly to institutions, as well as monthly upkeep allowances to support students’ living expenses.
NELFUND officials said beneficiaries were drawn from public tertiary institutions nationwide, including universities, polytechnics, and colleges of education. They noted that the process was carried out transparently through a digital application and verification system to ensure accountability.
The agency added that the initiative is designed to reduce dropout rates, promote equal opportunities, and improve human capital development.
Beneficiaries are expected to repay the loans under favourable terms after graduation and employment, in line with the provisions of the student loan scheme.
Students and education stakeholders have welcomed the intervention, describing it as a significant boost to tertiary education financing and a step toward making higher education more accessible to Nigerian youths.
