NELFUND Disburses ₦161.97bn to Support Over 864,000 Nigerian Students Nationwide

 

NELFUND Disburses ₦161.97bn to Support Over 864,000 Nigerian Students Nationwide

NELFUND Disburses ₦161.97bn to Support Over 864,000 Nigerian Students Nationwide

The Nigerian Education Loan Fund (NELFUND) has continued to make a strong impact on higher education in the country, announcing that it has so far disbursed a total of ₦161.97 billion in interest-free student loans to 864,798 students across Nigeria.

This milestone was disclosed during a press briefing in Abuja, where the Managing Director of NELFUND, Mr. Akintunde Sawyerr, provided an update on the progress, achievements, and challenges of the federal government’s student loan programme.

Making Education More Accessible

. The initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes human capital development and equal opportunities for young Nigerians.

Since the student loan portal was launched, more than 1.36 million students have submitted applications, showing the strong demand and relevance of the programme. Out of these applicants, close to 865,000 students have successfully received financial support.

Breakdown of Funds Disbursed

NELFUND revealed that the ₦161.97 billion disbursed so far has been shared across two major categories:

₦89.94 billion was paid directly to 263 tertiary institutions nationwide to cover tuition and other mandatory academic fees.

₦72.03 billion was transferred straight to students’ bank accounts to assist with upkeep, accommodation, feeding, transportation, and other daily living expenses.

This dual-payment structure ensures transparency while easing the financial burden on both students and their families.

Nationwide Awareness and Stakeholder Engagement

Over the past year, NELFUND has carried out extensive sensitization visits to universities, polytechnics, and colleges of education across the country. These engagements were aimed at educating students on how to apply, qualify, and responsibly utilize the loans.

Moving forward, the agency plans to widen its engagement strategy by involving parents, guardians, traditional leaders, religious institutions, and community groups. According to Sawyerr, this approach will help build confidence, address misconceptions, and encourage wider acceptance of the programme.

Addressing Payment Delays

NELFUND also acknowledged that a small number of beneficiaries—about 11,685 students—are yet to receive their upkeep payments, amounting to ₦927.98 million. The delay was attributed to technical issues such as incorrect bank details, network failures, and verification challenges.

The agency assured affected students that efforts are ongoing to resolve these issues. Beneficiaries have been advised to update their information promptly so that payments can be completed without further delay.

Future Plans and Partnerships

To ensure the long-term sustainability of the programme, NELFUND is actively seeking partnerships with philanthropists, private sector organizations, development partners, and other government agencies.

One notable step in this direction is a ₦20 billion partnership with the Federal Ministry of Education aimed at supporting Technical and Vocational Education and Training (TVET). This initiative is expected to equip young Nigerians with practical skills for employment and entrepreneurship.

Looking Ahead

Applications for the 2025/2026 academic session opened in November 2025, and within a few months, over 150,000 students had already benefited from the scheme. Meanwhile, loan repayments have commenced for some graduates who are now gainfully employed, helping to recycle funds for future beneficiaries.

Overall, NELFUND says the growing numbers reflect increasing trust in the programme and reaffirm the government’s commitment to building an educated, skilled, and empowered youth population.