NELFUND disbursed ₦144bn loans to over 500,000 students, says Tinubu

By Kunle Sanni –

President Bola Tinubu has said that the Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦144.2 billion in loans to more than 500,000 students across the country.

In his Independence Day broadcast on Wednesday, marking Nigeria’s 65th anniversary, the President described the initiative as a major step in his administration’s plan to expand access to education and ensure that no young Nigerian is denied learning opportunities due to financial constraints.

According to him, 510,000 students in 228 higher institutions across the 36 states and the Federal Capital Territory have benefited from the scheme.

Mr. Tinubu disclosed that as of September 10, NELFUND had disbursed ₦99.5 billion as tuition loans and an additional ₦44.7 billion in upkeep allowances.

The President said the programme is part of his “Renewed Hope Agenda,” which prioritizes education, technology, and youth empowerment.

He assured young Nigerians that his government would continue to support their aspirations through targeted investments, describing them as the country’s “greatest assets.”