The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N35 billion in financial support to 261,000 students across the country, its Managing Director, Mr. Akintunde Sawyerr, has revealed.
Sawyerr made this known during a sensitization session held at Edo State University, Iyamoh, in collaboration with the Edo State Ministry of Education. He explained that the disbursement covered over N22 billion in institutional fees paid directly to schools, while about N11 billion was allocated for students’ monthly upkeep.
“So far, we’ve received approximately 520,000 registrations, processed 419,000 applications, and disbursed funds to 261,000 students,” he stated.
Assuring students of the program’s long-term viability, Sawyerr noted that NELFUND is well-funded and ready to support all eligible applicants from higher institutions nationwide.
He also credited President Bola Ahmed Tinubu for creating an enabling environment for the fund to thrive beyond statutory allocations.
“Thanks to the president’s commitment, we’ve been able to attract additional funding from private organizations, NGOs, and concerned Nigerians. Many of them are now contributing through NELFUND to expand the reach of student support,” he said.
However, the event also highlighted concerns about low participation from Edo State students. Dr. Emmanuel Paddy, Edo State’s Commissioner for Education, noted that more awareness was needed to boost student registration in the state.
“The participation rate among Edo students remains low. This sensitization is aimed at increasing awareness and encouraging more students to apply,” Dr. Paddy said.
Prof. Dawood Egbefo, Acting Vice-Chancellor of Edo State University, disclosed that 51 students from the institution had already benefited from the scheme, receiving a total of N61.4 million.
“This initiative has brought significant financial relief to many of our students,” Prof. Egbefo remarked. “We urge more students to take advantage of it.”
The Vice-Chancellor also thanked President Tinubu for his administration’s strong focus on education, describing it as both visionary and impactful.
“His leadership continues to inspire progress in the education sector. We’re grateful for his dedication to building a smarter, better-educated Nigeria,” he concluded.
