N206bn disbursed to students across 270 institutions in two years —NELFUND
The Nigerian Education Loan Fund (NELFUND) says it has disbursed more than N206 billion to students in 270 tertiary institutions nationwide within 23 months of its establishment.
According to the Fund, a total of 1,751,669 applications have been received since its loan portal opened in May 2024, with 1,164,222 students successfully benefiting from the programme so far.
A breakdown of the disbursement shows that N128.84 billion was paid directly to institutions to cover tuition fees, while N77.45 billion was released to students as upkeep allowances to support their living expenses.
Managing Director of NELFUND, Akintunde Sawyerr on Wednesday in Abuja, reiterated the Fund’s commitment to ensuring that no qualified student is denied the opportunity to sit for examinations due to financial challenges.
He explained that the loan scheme is designed to cover both tuition and basic living costs, thereby improving access to higher education, particularly for indigent students.
NELFUND also reported 969 new applications in its most recent update, representing a 0.1 per cent increase, which it said reflects continued public interest and growing confidence in the initiative.
