NELFUND Approves N20.1bn Loans For Students In Public Tertiary Institutions

The Nigerian Education Loan Fund (NELFUND) has announced the approval of N20,075,050,006.55 loans for disbursement to 192,906 students in public tertiary institutions across the country.

NELFund said on its X (formerly Twitter) handle on Monday that the latest disbursement was as of January 1, 2025.

The most recent disbursement will primarily benefit Bayero University, Kano, which has 11,683 students approved to receive a total of N1.3 billion.

Following closely is the University of Maiduguri, where 12,198 students will share N1.27 billion. Additionally, the University of Jos has 6,988 students, who are set to receive N941 million, while 8,978 students from Federal University Dutsin-Ma will benefit from N909 million.

At the University of Ibadan, 4,907 students will receive N746m, and 5,451 students of Federal University Dutse will share N593m. Usmanu Danfodiyo University, Sokoto has 6,480 students slated to get N578m, while the University of Lagos will disburse N557m to 3,685 students.

On the other hand, institutions with fewer beneficiaries include Gombe State Polytechnic, Bajoga, where four students will receive N122,000, and Abia State Polytechnic, with two students approved to receive N106,300. Nwafor Orizu College of Education, Nsugbe, will disburse N214,116 to three students, and Kenule Benson Saro-Wiwa Polytechnic, Bori, will give N315,500 to seven students.

Three students at the Federal College of Education, Gidan Madi, will get N330,000, while 11 students from Federal Polytechnic Ukana, Akwa Ibom State, will share N518,500. Nine students from Federal Polytechnic Nekede, Imo State, are set to receive N368,400, and 12 students from Alvan Ikoku Federal University of Education, Owerri, will get N528,500.

The Fund had earlier announced that it distributed N110 billion to students nationwide, as stated by NELFund’s Managing Director, Akintunde Sawyerr, in an update given in December 2024.