The Nigerian Education Loan Fund (NELFUND) said its total disbursement for student loans covering school fees and upkeep stands at N32.8 billion as of 3 February 2025.

The Fund disclosed this on Monday in a statement signed by its management. NELFUND said the disclosure became necessary due to erroneous claims making rounds that it had disbursed over N104 billion to 600 beneficiaries.

NELFUND said it has received a total of 364,042 student loan applications since inception and has approved 192,906 applications.

The Fund said it has disbursed a total of N20 billion (N20,074,050,000) for institutional fees as of 3 February. It added that it has disbursed N12 billion (N12,818,960,000) as upkeep to 169,114 students.

Apart from school fees payments, beneficiaries have the option to receive a monthly stipend of N20,000, in addition to their loans

NELFUND said the disclosure became necessary due to erroneous claims making rounds that it had disbursed over N104 billion to 600 beneficiaries.

“The management of NELFUND under the leadership of Akintunde Sawyerr wishes to correct the inaccurate reports regarding the total amount disbursed under the Student Loan Scheme,” it said in the statement.

“We appreciate the unwavering support of President Bola Tinubu (GCFR) in making higher education accessible to all deserving Nigerian students. NELFUND remains committed to transparency and efficiency in managing the student loan scheme and will continue to provide accurate updates as disbursements progress.”

Student Loan scheme

Shortly after assuming office, President Tinubu provided assent to the Access to Higher Education Act (2023) to provide interest-free loans to Nigerian students in public tertiary institutions.

The law also provided the legal framework for the establishment of NELFUND which manages applications and disburses student loans.

The Fund, according to the Act, is to be funded from multiple streams and will engage in other productive activities.

It will also be funded through donations, gifts, grants, endowments, and revenue accruing to the fund from any other source, according to the Act.

After three failed attempts, NELFUND kicked off operation in May last year.

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By Ani Ruth

The Enugu State University of Science and Technology (ESUT) has directed students of the institution to apply for the Nigeria Education Loan Fund (NELFUND) loan

The university gave the directive via a memo on March 13, 2026 after the NELFUND portal for the 2024/2025 academic session was opened. The portal opened on February 22^nd.

The circular signed by the ESUT Registrar, Ambrose Ugwu, notified students and the university community about the opportunity to apply for the NELFUND loan.

The memo outlined the application process, advising interested students to visit the portal at (https://portal.nelf.gov.ng).

Applicants are instructed to create a new account and follow the subsequent steps provided on the portal.

The university advised students to take advantage of the opening to secure financial support for their tuition fees.

As of February 3rd, 2025, the Nigerian Education Loan Fund (NELFUND) has disbursed a total of N32.8 billion, including N20 billion for institutional fees and over N12 billion for upkeep (stipends), benefiting 192,906 students.

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The Nigerian Education Loan Fund (NELFUND) said it has disbursed over N22 billion under the student loan to 215,514 students.

The agency also said it has disbursed N12, 818, 960, 000 upkeep support to 169,114 students.
It said it would close the 2023/2024 student loan application cycle on Feb. 21 and commence the 2024/2025 application cycle on Feb. 22.
Managing Director of NELFUND, Akintunde Sawyerr disclosed this at a news conference in Abuja on Monday.

Sawyerr said NELFUND received 364,042 applications in 229 days, with an average of 1,000 applications per day.
He said: “In just 220 days, we have received an impressive 364,042 applications with an average of 1,000 applications per day. I am proud to announce that N22,736,960,971 has been disbursed to cover institutional fees across 240 institutions, directly benefiting 215,514 students. Furthermore, a total of N12,818,960,000 has been disbursed as upkeep support, reaching 169,114 students, each receiving N20,000 monthly to assist with their living expenses.

“As part of our commitment to efficiency, transparency, and continuous improvement, we are here today to formally announce the closure of the 2023/2024 application cycle on our student loan portal. This marks a critical transition as we prepare to open the 2024/2025 application cycle.

“The 2023/2024 student loan application portal will officially close on February 21, 2025. We want to reassure all applicants who have successfully submitted their applications before this deadline that their applications will be processed in line with our established guidelines. Our team remains committed to ensuring a fair and timely review of all pending applications.
“I am pleased to announce that the 2024/2025 application cycle will officially commence on February 22, 2025. This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently.”

The NELFUND boss stated that the transition to the 2024/2025 cycle was a demonstration of the organisation’s commitment to efficiency, transparency, and continuous improvement of the scheme.
The managing director urged potential applicants to start preparing by collecting the required documents, assuring those who submitted their applications on time that their submissions would be reviewed in accordance with NELFUND’s standard procedures.

Sawyerr reassured those who had successfully submitted their applications before the deadline that their applications would be processed, in line with the fund’s established guidelines.
He said: “Our team remains committed to ensuring a fair and timely review of all pending applications.

“This transition is a necessary step to streamline our operations, align with the academic calendar, and enhance our ability to process applications efficiently.
“NELFUND remains dedicated to providing financial support to students, ensuring that no deserving individual is denied education due to financial constraints.”

Sawyerr said the agency was updating its student database to ensure only active students receive support, with a focus on moving into the 2024-2025 academic session.
He blamed delays in processing applications on benefitting institutions that verify students’ information, adding that the delay affects the payment of institutional fees and upkeep.

He noted that upkeep payments are made only after institutional fees are confirmed, with a gap of a week or two between the two payments.

Credit, The Nation

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The Vice-Chancellor, Enugu State University of Science and Technology, ESUT, Prof Aloysius-Michaels Okolie has urged students of the university to make judicious use of the Nigerian Education Loan Fund (NELfund) provided by the Federal Government.

The VC gave the charge on Friday in Enugu during the South East sensitization visit by the NELFund to three tertiary institutions in Enugu – Enugu State University of Science and Technology (ESUT), University of Nigeria, Nsukka (UNN) and the Institute of Management and Technology (IMT).

The sensitization workshop held at the Moot Court Auditorium of UNN, Enugu Campus, had ESUT VC, UNN VC as well as IMT Rector in attendance. Other high profile individuals at the workshop include the Senior Special Assistant to the President on Community Engagement for South East, Barr Chioma Nweze; the Managing Director/Chief Executive of NELfund, Mr Akintunde Sawyerr, among others.

Delivering his speech, ESUT Vice-Chancellor commended the Federal Government for initiating the student loan fund adding that the the management of ESUT has put machineries in place to ensure seamless application by the students.

While charging the students to leverage on the opportunity, he noted that ESUT management
Has employed the services of computer experts to help the students in their applications.

“I want to commend the management of NELfund for this sensitisation in South East tertiary institutions. It is here that misconceptions will be corrected and students guided appropriately on how to apply for the loan.

“At ESUT, we encourage students to apply for the loan because this is their money. We have deployed the services computer experts to guide them in their application. I have no doubt, whatsoever, that this programme by the government will aid education at this level in the country,” he said.

Addressing the students from the three institutions, Barr Chioma Nweze urged them to make best use of the opportunity to actualise their educational dream. She explained that the application for the loan, which is interest free, is session based, that student can apply for each session.

She stressed that repayment of the loan takes effect two years after the beneficiaries have concluded their national youth service.

She explained criteria required for the application. “Students can apply using their JAMB registration number, matriculation number, BVN, NIN, no surety is needed. Outside the school fees, NELfund also gives ₦20,000 to ₦40,000 stipends for students’ upkeep. NELfund operates through any bank of the students’ choice,” she said.

Highlights of the sensitization workshop was disbursement of ₦5000 each to the first 100 students to arrive at the venue of the meeting. Barr Nweze who made the pledge prior to the commencement of programme, gave the students the money adding that the gesture was to encourage them for seeing the need to attend the programme.

ESUT Monitor can authoritatively report that NELfund has disbursed students loans to 59 institutions including five from the South East region.

Institutions from the South-East that have already benefited from the loan include: Federal Polytechnic, Nekede, Imo State; Ebonyi State University; Abia State University; Michael Okpara University of Agriculture, Umudike; and Alex Ekwueme Federal University, Anambra State, sharing ₦467 million among them.

According to a list obtained from the NELFUND, Alex Ekueme Federal University Ndufu, Ebonyi State, got N193,377,100; Michael Okpara University, got N71,016,220; Abia State University, had N12,469,5003; Federal Polytechnic, Nkede, Imo State, got N368,400; and Ebonyi State University students got N78,313,000.

A total of ₦50 billion was budgeted for the NELFund in the 2024 with a total of ₦2.1 billion already disbursed

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The management of Enugu State University of Science and Technology, ESUT, has directed students of the institution to, without delay, apply for the National Education Loan, Fund (NELFUND).

This was contained in a memo signed by the Director of Academic Planning, Professor Chike Anibeze.

In the circular released recently, the university noted that students’ data have been successfully uploaded into the NELFUND portal and urged the students to make best use of the opportunity.  

“This is to inform you that ESUT students’ data had successfully been uploaded to the NELFUND site. Our students are now eligible to register at the website,

www.nelf.gov.ng to access the loan.

“Deans of Faculties and Hods to please sensitize the students to make use of this great opportunity by visiting and registering at the site: https://www.nelf.gov.ng

“Please kindly do the needful as various universities/colleges have already benefited from the scheme,” circular read.

It could be recalled that South East tertiary institutions were initially unable to access the loan due to inability of universities in the region to upload their data into the website. This, however, has been sorted out.

Meanwhile, no fewer than 556 students of the Nnamdi Azikiwe University, Awka, Anambra State have applied for the Nigerian Education Loan Fund.

According to the institution, the applications were submitted on August 14, adding that out of the 556 that applied, 304 students were approved by NELFUND on August 16, 2024.

Recall that the South-East caucus of the National Assembly has raised concerns over the exclusion of beneficiaries from South-East tertiary institutions in the ongoing disbursement of student loans by NELFUND.

The loans, intended to support students across Nigeria, have so far amounted to N2bn benefiting 27,667 students from 19 institutions nationwide.

Currently, the Northern region is dominating the list of states with highest number of universities that have so far applied for the loan. The states are: Kano, Borno, Benue, Kaduna, Katsina, Oyo, Plateau, Adamawa, Yobe and Taraba states.

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