In a landmark achievement for Nigeria’s education sector, the Nigerian Education Loan Fund (NELFUND) has officially disbursed over N206 billion to students across 270 institutions nationwide. The milestone comes just 23 months after the initiative’s launch by President Bola Ahmed Tinubu, signaling a massive shift in the accessibility of higher education.
Latest data reveals that since the application portal went live in May 2024, the fund has received 1,751,669 applications, with 1,164,222 students successfully benefiting from the scheme so far.
A Breakdown of the Numbers
The disbursement strategy highlights a dual approach to student welfare, covering both institutional costs and personal upkeep where N128.84 billion has been paid directly to 270 beneficiary institutions for tuition fees, and N77.45 billion has been distributed to students as upkeep allowances to manage living expenses.
The fund continues to see steady growth, with a recent 0.1% increase in new applications, a trend that officials say reflects deepening public confidence in the program’s transparency.
No Student Left Behind
Speaking during a recent interview on Arise TV, the Managing Director of NELFUND, Mr. Akintunde Sawyerr, emphasized that the interest-free loans were specifically designed to eliminate the financial barriers that have long forced Nigerian youths to drop out of school.
“We started the scheme of His Excellency, President Bola Ahmed Tinubu, to provide students with interest-free loans with very soft terms. This ensures that the situation we’ve had in this country for so long where so many cannot commence tertiary education or are forced to drop out because of lack of funds is addressed,” Sawyerr stated.
The Managing Director further assured that no eligible beneficiary would be barred from writing examinations due to financial constraints, provided they have been verified by the fund.
Institutional Collaboration: The DELSU Example
NELFUND recently lauded the management of Delta State University (DELSU), Abraka, for its youth-friendly approach. The university issued a directive allowing students whose status is marked as “Verified” or “Disbursed” on the NELFUND portal to sit for their 2025/2026 first-semester examinations upon showing proof of their application status.
Sawyerr commended the move, stating:
“It reflects a clear understanding of the purpose of the NELFUND scheme. We are pleased to see institutions taking practical steps that allow students to continue their academic activities without disruption,” he stated.
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