The Nigerian Education Loan Fund (NELFUND) has announced that student loan disbursements for the current funding cycle have soared to ₦54.2 billion, marking a significant stride in the nation’s push for equitable access to higher education.
This milestone underscores the federal government’s commitment to easing the financial burdens on students and promoting academic continuity across Nigeria’s tertiary institutions.
According to NELFUND, the funds have been distributed to thousands of qualified students enrolled in public universities, polytechnics, and colleges of education. Each application underwent a thorough verification and approval process to ensure eligibility and transparency.
The initiative, officials say, is a cornerstone of the government’s broader agenda to promote inclusive education and uplift economically disadvantaged communities. A digitized disbursement system was introduced to reduce administrative bottlenecks and eliminate delays.
The move has received widespread praise from education stakeholders and policy analysts, who view it as a vital investment in Nigeria’s human capital. However, calls for robust monitoring mechanisms have intensified to guarantee that the funds are properly utilized.
In response, NELFUND has reaffirmed its commitment to accountability, citing the implementation of independent audits, compliance checks, and feedback channels to safeguard the integrity of the program.
