NELFUND Expands Access to Higher Education with ₦206bn Disbursed Nationwide

In a major boost to access to higher education, the Nigerian Education Loan Fund (NELFUND) has disbursed over ₦206 billion to students across 270 tertiary institutions nationwide, less than two years after its launch by Bola Ahmed Tinubu.

The figures highlight the growing reach of the initiative, with a total of 1,751,669 applications received since the loan portal opened in May 2024. Out of this number, 1,164,222 students have successfully benefited from the scheme, marking a significant stride toward reducing financial barriers in education.

A detailed breakdown shows that ₦128.84 billion has been paid directly to institutions to cover tuition fees, while ₦77.45 billion has been disbursed to students as upkeep allowances—ensuring that both academic and living expenses are adequately addressed.

The programme continues to record steady growth, with 969 new applications in its latest update, reflecting sustained public confidence and increasing awareness among students nationwide.

Speaking on the initiative, NELFUND Managing Director, Akintunde Sawyerr, reassured students that financial hardship would no longer be a barrier to academic progress. He emphasized that no eligible student under the scheme would be prevented from sitting for examinations due to lack of funds.

In a recent interview on Arise TV, Sawyerr explained that the loan scheme was designed to provide interest-free financial support with flexible repayment terms, targeting students who might otherwise be unable to pursue or complete tertiary education.

While reiterating the fund’s commitment to timely disbursement, he noted that due diligence and institutional processes remain critical to ensuring transparency and preventing misuse of funds.

Meanwhile, NELFUND has applauded the proactive stance of Delta State University, Abraka for adopting a student-friendly policy. The university recently permitted students whose loan status is marked “Verified” or “Disbursed” to sit for their first semester 2025/2026 examinations upon presenting proof of participation in the scheme.

Sawyerr described the move as a model of institutional collaboration, noting that it aligns with NELFUND’s mission to ensure uninterrupted academic progress for beneficiaries.

He stated that such initiatives reinforce the broader objective of the programme—to promote fairness, inclusivity, and equal access to higher education across Nigeria.

Reacting to the scheme’s rapid progress, the Tinubu Media Support Group (TMSG) described NELFUND as a transformative intervention in the country’s education sector.

According to TMSG Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the fund has become a cornerstone of the administration’s Renewed Hope Agenda, particularly in advancing inclusive access to tertiary education.

The group noted that despite initial scepticism, the scheme’s rapid adoption by over 270 institutions and more than one million students underscores its credibility and effectiveness.

They also highlighted that the loan programme operates on an interest-free basis, with repayment scheduled to begin two years after completion of the National Youth Service Corps (NYSC), and only after beneficiaries secure employment—alongside provisions for deferment where necessary.

Commending NELFUND’s transparency and engagement, TMSG expressed optimism that the number of beneficiaries will continue to rise significantly, further strengthening human capital development in Nigeria.

Ultimately, the fund is emerging as a measurable and impactful solution aimed at ensuring that no Nigerian student is denied access to tertiary education due to financial constraints.

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