The Nigerian Education Loan Fund, (NELFUND), has disbursed over N206 billion to students in 270 institutions nationwide, within 23 months of its launch by President Bola Tinubu.
The latest figures show 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.
A breakdown of the disbursement shows that N128.84 billion has been paid directly to 270 beneficiary institutions as tuition fees, while N77.45 billion has been released to students as upkeep allowances.
The managing director of NELFUND, Mr. Akintunde Sawyerr, who stated this while speaking on the Fund’s activities, assured Nigerian students that no eligible beneficiary of the education loan scheme would be barred from sitting for examinations due to financial constraints.
The NELFUND boss said this is to ensure that both academic costs and living expenses are addressed, making higher education more accessible to indigent students.
According to him, the Fund has maintained steady growth, recording 969 new applications in its most recent update, representing a 0.1 per cent increase, an indication of sustained interest and public confidence in the programme.
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