NELFUND Disburses Over N206 Billion to 1.16 Million Students Across 270 Institutions in 23 Months
The Nigerian Education Loan Fund (NELFUND) has achieved a significant milestone by disbursing more than N206 billion to students nationwide within 23 months of its launch by President Bola Tinubu. This initiative, aimed at expanding access to tertiary education, has benefited 1,164,222 students from a total of 1,751,669 applications received since the portal opened in May 2024.
Breakdown of Disbursements and Institutional Impact
A detailed analysis reveals that N128.84 billion has been paid directly to 270 beneficiary institutions to cover tuition fees, while N77.45 billion has been allocated to students as upkeep allowances. This dual approach ensures that both academic costs and living expenses are addressed, making higher education more accessible to indigent students across Nigeria.
The Fund has demonstrated steady growth, with 969 new applications recorded in its most recent update, representing a 0.1 percent increase. This sustained interest underscores public confidence in the programme's ability to support educational advancement.
Leadership Assurance and Programme Design
In a recent interview on Arise TV, Akintunde Sawyerr, Managing Director of NELFUND, assured Nigerian students that no eligible beneficiary would be barred from sitting for examinations due to financial constraints. He emphasized that the scheme, introduced by President Tinubu, is designed to eliminate financial barriers through interest-free loans with flexible repayment terms.
"We started the scheme of His Excellency President Bola Ahmed Tinubu, GCFR, to provide students with loans, interest-free loans, with very, very soft terms, to ensure 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.
He further noted that while NELFUND is committed to swift disbursement, government funding necessitates strict institutional processes to prevent misappropriation, ensuring transparency and accountability in the allocation of resources.
Institutional Collaboration and Student Support
Recently, Sawyerr commended Delta State University, Abraka, for its student-friendly directive, which allows students with a NELFUND status of "Verified" or "Disbursed" to sit for their first semester 2025/2026 examinations upon presenting evidence. This move, issued via an internal memorandum, exemplifies institutional collaboration in support of Nigerian students.
"We warmly welcome this student-centred approach by Delta State University. It reflects a clear understanding of the purpose of the NELFUND scheme, which is to ensure that no Nigerian student is denied access to education because of financial constraints," Sawyerr said.
He added that such actions reinforce the broader objective of the NELFUND programme: to expand access to higher education while promoting fairness and inclusivity across Nigeria’s tertiary institutions.
Recognition and Future Outlook
The Tinubu Media Support Group (TMSG) has hailed the achievements of NELFUND as a major milestone and transformative intervention in Nigeria’s education sector. With over N206 billion disbursed to 1.16 million students in less than two years, the scheme continues to demonstrate its impact in bridging the financial gap for tertiary education.
As NELFUND maintains its momentum, the focus remains on ensuring that more students benefit from this initiative, fostering a more educated and empowered generation across the country.
