The Nigerian Education Loan Fund (NELFUND) has disbursed N35 billion to support 261,000 students across the country, according to its Managing Director, Akintunde Sawyerr.
Speaking at a sensitization program for students at Edo State University, Iyamoh, in collaboration with the Edo State Ministry of Education, Sawyerr provided an update on the fund’s activities.
“So far, we have disbursed over N22 billion for institutional fees, which are payments made directly to schools. Additionally, about N11 billion has been allocated as monthly upkeep allowances. In total, N35 billion has been disbursed,” he revealed.
“We have received approximately 520,000 registrations, out of which 419,000 applications were submitted. Of these, 261,000 students have received payments for both institutional fees and upkeep.”
Sawyerr emphasized that NELFUND remains well-funded and committed to supporting eligible students nationwide.
He also praised President Bola Tinubu’s administration for facilitating access to additional funding beyond statutory allocations.
“The political will demonstrated by President Tinubu has ensured that we can secure funds from sources outside government allocations. Many Nigerians and organizations are willing to assist students with their education, and some NGOs are now channeling their contributions through NELFUND to help expand its reach,” he explained.
Despite these efforts, Edo State’s Commissioner for Education, Dr. Emmanuel Paddy, expressed concern over the low participation of students from the state in the loan program.
“The number of Edo students benefiting from this initiative is relatively low,” he noted, urging more students to take advantage of the scheme. “This sensitization program is crucial in ensuring our students are well-informed and can fully benefit from this opportunity.”
Similarly, Acting Vice-Chancellor of Edo State University, Prof. Dawood Egbefo, shared that 51 students from the institution had accessed loans amounting to N61.4 million.
“This initiative has been a beacon of hope for many students. I encourage all attendees to maximize this opportunity,” he said.
Egbefo also expressed gratitude to President Tinubu for his commitment to advancing education in Nigeria.
“His vision for a well-educated and prosperous nation is truly inspiring,” he added.
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