NELFUND Reports Over ₦33 Billion Disbursed To 261,000 Student Loan Beneficiaries

NELFUND Reports Over ₦33 Billion Disbursed To 261,000 Student Loan Beneficiaries

The Nigerian Education Loan Fund (NELFUND) has revealed that it has disbursed nearly ₦33 billion to 261,000 students across the country. The agency’s Managing Director, Akintunde Sawyer, made this announcement on Thursday during a student sensitization event in the Edo North Senatorial District, organized in collaboration with the State Ministry of Education……..READ MORE

The event, held at Edo University, Iyamho, provided updates on the allocation of funds, with over ₦22 billion designated for institutional fees and approximately ₦11 billion allocated for students’ monthly living expenses.

Sawyer also noted that NELFUND has processed around 419,000 applications out of 520,000 registrations, ensuring financial support for eligible students enrolled in recognized tertiary institutions. He emphasized that the agency is well-funded and benefits from strong political backing, allowing access to additional resources beyond statutory allocations.

Additionally, he highlighted contributions from non-governmental organizations and private donors, who are helping expand financial support for students. Sawyer acknowledged that many Nigerians are willing to assist students but previously lacked a structured platform to channel their contributions effectively.