NELFUND disburses N206bn to 1.16m students in one year
The Nigerian Education Loan Fund (NELFUND) has disbursed over N206 billion to 1,164,222 students across 270 institutions in its first year of operation. Since May 2024, the fund has received 1,751,669 applications, approving 1,164,222. N128.84 billion covered tuition fees while N77.45 billion supported living expenses. Managing Director Akintunde Sawyerr confirmed no eligible student will be barred from exams due to financial constraints. The interest-free loans with flexible repayment terms aim to remove financial barriers to higher education. The fund received 969 new applications recently, indicating strong student adoption.