The Nigerian Education Loan Fund (NELFUND) has disbursed N116 billion in tuition fees and upkeep allowances to students in public tertiary institutions since the student loan scheme commenced, according to its Managing Director, Akintunde Sawyerr.
Speaking in Abuja, Sawyerr described the disbursement as a major step toward making tertiary education more accessible and affordable under the Federal Government’s social investment agenda.
He explained that N65 billion has been paid directly to 239 public universities, polytechnics, and colleges of education on behalf of students whose loan applications were approved.
Another N51 billion was transferred to beneficiaries as monthly upkeep allowances.
“We have received 1,067,000 loan applications and so far supported 624,000 students in 239 institutions,” Sawyerr said.
“We have disbursed N65 billion in institutional fees and N51 billion in upkeep allowances — a total of N116 billion in federal government funds.”
He noted that the loan scheme continues to attract high daily application volumes, reflecting growing acceptance among students nationwide.
Sawyerr reaffirmed that the initiative is designed to ensure no Nigerian student is denied higher education due to financial constraints, adding that NELFUND remains committed to expanding support across the country.
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