NELFUND Disburses N206bn Across 270 Institutions in Two Years

By Micheal Chukwuebuka

The Nigerian Education Loan Fund, NELFUND says it has disbursed over N206 billion to students across 270 institutions nationwide within 23 months of its launch.

Latest figures indicate that 1,751,669 applications have been received since the portal opened in May 2024, with 1,164,222 students benefiting from the scheme.
Of the total disbursement, N128.84 billion was paid directly to beneficiary institutions for tuition, while N77.45 billion was released to students as upkeep allowances.

NELFUND Managing Director, Akintunde Sawyerr, Assures that no eligible beneficiary would be prevented from sitting examinations due to financial constraints. He said the scheme covers both tuition and living expenses to make higher education more accessible to indigent students.
The Fund also recorded 969 new applications in its latest update, a 0.1 per cent increase, reflecting sustained public interest and confidence in the programme