Over 788,950 Students Benefit as NELFUND Disburses ₦154.4bn in 18 Months
In a massive drive to revolutionize access to higher education in Nigeria, the federal government has achieved a significant milestone as NELFUND Disburses ₦154.4bn to students across the federation. Within a span of just 18 months, the Nigerian Education Loan Fund has effectively bridged the financial gap for 788,947 students, ensuring that academic dreams are no longer cut short by the rising cost of tuition and living expenses. This intervention represents a cornerstone of the current administration’s social investment strategy, aimed at fostering an inclusive environment for the nation’s youth.
The impact of this scheme is becoming visible on campuses across the country, with funds meticulously allocated to cover both institutional fees and monthly upkeep for beneficiaries. A recent breakdown of the figures reveals that the reach of the program is deepening at the grassroots level; for instance, at Adekunle Ajasin University, Akungba-Akoko (AAUA), exactly 1,116 students have already benefited from the loan. These numbers underscore a systematic approach to wealth redistribution through education, targeting students who genuinely require a financial lifeline to complete their degrees.
READ ALSO: NELFUND Opens 2025/2026 Student Loan Application
Operationally, the fund has maintained a focus on transparency and direct impact. By paying tuition fees directly to the universities and providing maintenance allowances to the students, NELFUND has minimized the risk of fund diversion while maximizing the stability of the academic calendar. This ₦154.4 billion injection into the education sector is expected to drastically reduce dropout rates and alleviate the immense pressure on Nigerian parents. As the program continues to scale, the focus remains on ensuring that no qualified Nigerian student is left behind due to their socioeconomic background.
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