The Nigerian Education Loan Fund (NELFUND) has disbursed over N72 million in student loans to 1,607 students across three tertiary institutions in Nigeria.
The institutions that benefited from the loan disbursement are the Federal College of Education, Obudu; Abdulkadir Kure University, Minna; and Adamawa State University, Mubi.
In a statement on Tuesday, NELFUND on its official X account reaffirmed its commitment to supporting students in Nigerian tertiary institutions.
“We are pleased to announce the successful disbursement of funds to three institutions:
1. Federal College of Education, Obudu (disbursed in two tranches): 1st tranche: N14,320,500.00 to 215 students, 2nd tranche: N7,469,000.00 to 107 students.
2 . Abdulkadir Kure University, Minna, N2,900,000.00 to 9 students and Adamawa State University, Mubi, N47,621,121.00 to 1,283 students,” they stated
Reactions from institutions
The institutions acknowledged the disbursement and commended NELFUND for its intervention.
The Federal College of Education, Obudu, described the initiative as a significant step in supporting students. In a letter signed by the Provost, Dr. Richard Utubaku, and the Bursar, Joseph Ogar, the institution stated,
“This is a testament to President Tinubu’s relentless efforts in repositioning the Nigerian education system at all levels. We sincerely commend NELFUND for the smooth and transparent disbursement process.”
Similarly, Abdulkadir Kure University, Minna expressed appreciation for the initiative, stating that the funds had significantly eased financial difficulties for its students. This was confirmed in an acknowledgment letter signed by the institution’s registrar, Dr. Garba Abdullahi.
At Adamawa State University, Mubi, the acting Vice-Chancellor, Dr. Ibrahim Bwatanglang, acknowledged the disbursement and expressed hope for continued collaboration with NELFUND in subsequent batches. The institution also requested an approved list of shortlisted beneficiaries for the second batch.
What you should know
Nairametrics reported in February that NELFUND disbursed a total of N20,074,050,000 for institutional fees, benefiting no fewer than 192,906 students across various tertiary institutions in the country as of February 3, 2025.
- The Student Loan Scheme noted that approximately 169,114 students had benefited from the Fund’s monthly stipend disbursement, amounting to N12,818,960,000, with each student receiving N20,000.
- As of January 2025, the Education Loan Fund announced the disbursement of N20.08 billion to 192,906 students across 133 tertiary institutions in Nigeria.
- The Federal Government, in its proposed N49.74 trillion 2025 budget, has allocated approximately N175.13 million to NELFUND to facilitate its operations under the Student Loan Act, 2024.
The student loan fund reported that male students are applying for the Federal Government’s zero-interest education loans at a 4:1 ratio compared to female students, urging more female students to take advantage of the initiative to bridge the gap.
