The Nigerian Education Loan Fund (NELFUND) says it has disbursed more than ₦206 billion to students and tertiary institutions across the country within the past two years, marking one of the largest investments in student financing under the federal government’s education support programme.
The agency disclosed that the funds were released to cover institutional fees and upkeep allowances for eligible students, with the initiative aimed at easing the financial burden of higher education and expanding access to tertiary learning.
According to NELFUND, the disbursements reflect the federal government’s commitment to ensuring that financial constraints do not prevent qualified Nigerians from pursuing university, polytechnic and college education.
The fund noted that thousands of beneficiaries have so far accessed the scheme, while additional applications are being processed as the programme continues to expand nationwide.
Officials said the student loan initiative is expected to strengthen human capital development, reduce school dropout rates and provide greater educational opportunities for young Nigerians.
NELFUND reaffirmed its commitment to ensuring a transparent, efficient and accessible loan system, urging eligible students to take advantage of the scheme as part of broader efforts to improve access to quality education in the country.
