The Nigerian Education Loan Fund NELFUND has disbursed a total of N116 billion for institutional fees and student upkeep allowances across the country.
The Managing Director of NELFUND, Mr. Akintunde Sawyerr, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja, describing the development as a major milestone in the Federal Government’s drive toward accessible and inclusive tertiary education.
According to him, N65 billion has been released directly to 239 government-owned tertiary institutions—including universities, polytechnics and colleges of education—on behalf of students whose loan applications have been approved.
He added that an additional N51 billion was paid directly to beneficiaries as monthly upkeep allowances.
Sawyerr revealed that the Fund had so far received 1,067,000 loan applications, out of which 624,000 students have benefited since the commencement of disbursement.
> “We have been able to pay fees and upkeep for 624,000 students in 239 institutions. We have disbursed N65 billion in institutional fees and N51 billion as monthly upkeep. In total, we have disbursed N116 billion of Nigeria’s government money,” he said.
The MD noted that NELFUND continues to record high daily engagement as more students apply for support.
He reaffirmed the Fund’s commitment to transparency, efficiency and sustained implementation of the scheme, which he described as one of the flagship social investment programmes of the Tinubu administration.
Sawyerr stressed that the education loan scheme was designed to eliminate financial barriers for students, ensuring that no Nigerian is denied tertiary education due to lack of funds.
