NELFUND Disburses N161.9bn To 864,798 Students Nationwide

The Nigerian Education Loan Fund (NELFUND) has revealed that it has disbursed a total of N161.9 billion to 864,798 students across the country since the launch of its student loan portal, as part of efforts to increase access to tertiary education.

Managing Director of the Fund, Akintunde Sawyerr, shared the update at a news conference in Abuja on Tuesday, briefing journalists on the progress, impact, and challenges of the student loan scheme.

Sawyerr described the fund as a product of President Bola Tinubu’s Renewed Hope Agenda, established to ensure that no Nigerian student is denied an education due to financial limitations.

He said that the scheme has so far received 1,361,011 applications from students nationwide.

Explaining the breakdown of the disbursements, he stated, “As of today. 1,361,011 applications have been received, 864,798 students have so far benefited from the loan scheme, and a total disbursement stands at N161.97 billion.

“These include N89.94 billion paid directly to 263 tertiary institutions for tuition and institutional fees, and N72.03 billion paid directly to students as upkeep allowances.”

Sawyerr noted that the figures reflected tangible benefits for students and their families, describing them as evidence of barriers being removed and opportunities being created.

He also highlighted that over the past year, NELFUND has conducted extensive sensitisation campaigns across tertiary institutions to raise awareness and improve access to the scheme.

Going forward, he said, the focus would expand to include parents, guardians, traditional leaders, and faith-based organisations to deepen public understanding and build trust in the programme.