More Funds for Public Varsity Students as NELFUND Releases N20 Billion Loan Nationwide

• The Nigerian Education Loan Fund has allocated over N20 billion to 192,906 students in public tertiary institutions
• Universities such as Bayero University, Kano, University of Maiduguri, and the University of Jos received the largest shares
• Experts commend NELFUND’s efforts but emphasize the need for greater funding to cover all students in need

The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of over N20 billion to students in public tertiary institutions across the country.

This latest financial intervention aims to ease the financial burden on 192,906 students nationwide.

Details of the disbursement

According to an update shared by NELFUND on X (formerly Twitter) on January 1, this funding allocation is part of the agency's commitment to support education in Nigeria, Channels Television reported.

Some of the highest beneficiaries include:

Bayero University, Kano (BUK): 11,683 students will receive a total of N1.3 billion.

Read also

National Assembly threatens JAMB for spending N1.85bn on meals, insecticide, others

University of Maiduguri: 12,198 students are approved for N1.27 billion.

University of Jos: 6,988 students will share N941 million.

Federal University Dutsin-Ma: 8,978 students are allocated N909 million.

University of Ibadan, with N746 million for 4,907 students

Federal University Dutse, where 5,451 students will share N593 million.

Usmanu Danfodiyo University, Sokoto, has 6,480 students slated to get N578m

The University of Lagos will disburse N557m to 3,685 students.

Smaller institutions as beneficiaries

While larger institutions received significant sums, smaller institutions also benefited, though with fewer recipients. For example:

Gombe State Polytechnic, Bajoga: Four students will receive N122,000.

Abia State Polytechnic: Two students are approved for N106,300.

Nwafor Orizu College of Education, Nsugbe: Three students will receive N214,116.

NELFUND’s growing impact

In December 2024, NELFUND’s Managing Director, Akintunde Sawyerr, disclosed that the agency had already disbursed N110 billion to students across the country.

Read also

UNILAG to graduate 2 students with perfect 5.0 CGPA, 16,407 others

Speaking about the latest allocation, Sawyerr emphasized the importance of supporting education as a tool for national development.

“This disbursement reaffirms our commitment to ensuring that no Nigerian student is left behind due to financial constraints,” Sawyerr stated.

An educationist, Dr. Temitayo Oyenwo, noted that despite the impressive figures called for even greater funding to ensure that all students in need are adequately supported.

Experts have also urged transparency in the loan disbursement process to prevent mismanagement.

"While the funding is commendable, we must ensure even greater support for all students in need and prioritize transparency to avoid mismanagement," an educationist emphasized.

NELFUND continues to position itself as a critical driver of education funding in Nigeria, addressing the financial challenges of students across the nation and contributing to the development of an educated and empowered workforce.

See the full list here:

Read also

Report exposes how federal MDAs spent over N22bn on solar installations in 2024

Data from NELFUND student loan registration

Meanwhile, Legit.ng reported that the Nigerian Education Loan Fund (NELFUND) has released its latest data on student loan registrations, highlighting significant demand across various states in Nigeria.

The data reveals that Kano leads with the highest number of applicants, with 17,122 students applying after registering out of 20,814 registered students.

Source: Legit.ng