NELFUND Disburses Nearly N3 Billion in Loans to Over 27,000 Students From UNILAG, FPI, OAU, UNIBEN, Others Across Nigeria

BY: Abdulwasiu Akintunde 

The Nigerian Education Loan Fund (NELFUND) has reported that it has successfully disbursed a substantial total of N2,946,927,155 in student loans, benefiting no fewer than 27,667 students from 19 tertiary institutions across Nigeria. 

This disclosure was made on Friday through an official post on the Fund's social media platform, X (formerly known as Twitter), utilizing the hashtag #NELFUND to share the news with the public.

As gathered by OPEN TELEVISION Naija (OTN) News, NELFUND has long been a critical player in the provision of financial aid to students pursuing higher education, and this latest round of disbursements underscores its ongoing commitment to bridging the gap for those in need of financial assistance. 

The student loans have been allocated to students in various Federal and State Universities, Polytechnics, and Colleges of education, ensuring that financial support reaches diverse academic sectors.

In a prior announcement made on August 14, 2024, NELFUND also highlighted a significant milestone achieved in its student loan program. 

Following a comprehensive review conducted by the Student Verification System Committee, students from an additional 22 State-owned Tertiary Institutions were granted approval to apply for the loan scheme. 

This expansion brought the total number of State-approved institutions eligible to participate in the student loan program to 108, further extending the reach of the Fund's support to a greater number of institutions and students nationwide.

The institutions that have benefited from this latest disbursement of funds, alongside the amounts allocated to each, are as follows:

- University of Maiduguri — N589,001,500

- University of Ibadan — N201,114,650

- University of Ilorin — N52,897,890

- University of Benin — N24,412,500

- Federal University, Dutsin-Ma — N304,961,800

- Bayero University, Kano — N853,775,000

- Federal College of Education, Abeokuta — N1,945,700

- Federal University of Technology, Minna — N62,928,600

- Obafemi Awolowo University, Ile Ife — N50,414,000

- Federal Polytechnic, Ilaro — N8,347,465

- University of Lagos — N122,494,400

- University of Jos — N209,320,000

- Federal College of Education (Technical), Gusau — N15,600,200

- Federal College of Education (Special), Oyo — N18,502,500

- Federal University, Dutse — N207,106,000

- Federal University, Birnin-Kebbi — N130,002,800

- Modibbo Adama University, Yola, Adamawa State — N83,837,850

- Federal Polytechnic, Bauchi — N7,218,800

- Federal Polytechnic, Mubi — N2,045,500

This allocation marks a significant investment in the future of Nigerian students, with NELFUND ensuring that access to education remains a priority. 

OTN News revealed that the Fund has made great strides in ensuring that students from all corners of the country, across a variety of institutions, are able to access loans that help them meet their educational goals.

By facilitating these loans, NELFUND is actively supporting Nigeria's educational development and long-term economic growth. 

As the Fund continues to assess applications and distribute funds, it maintains its mission of alleviating the financial burdens of students, enabling them to focus on their academic endeavors.

Additionally, NELFUND's decision to expand the number of institutions eligible for the loan scheme reflects its commitment to inclusivity and its recognition of the diverse needs of students across different regions and educational backgrounds.

To stay updated with the latest information regarding the Nigerian Education Loan Fund, the approved institutions, and further details on disbursements, stakeholders are encouraged to follow NELFUND’s communications on its X handle using the hashtag #NELFUND.