The Nigerian Education Loan Fund (NELFUND) has delivered a substantial funding boost to students across the country, disbursing ₦116.4 billion in loans that have benefitted 624,256 students for the 2025 academic cycle. (Punch)
According to the agency’s recently published figures, the loans cover tuition fees, part-charges, and stipends designed to ease the financial burden on students in tertiary institutions. Managing Director Akintunde Sawyerr reaffirmed that the funding comes under the Student Loans (Access to Higher Education) Act, which mandates NELFUND to provide accessible financing for students who would otherwise be unable to afford university or college. (Wikipedia)
The breakdown of the disbursal indicates strong uptake across federal, state, and private institutions. While NELFUND has not published detailed state-by-state numbers, the figure implies an average of approximately ₦186,000 per beneficiary, although actual amounts vary by institution and study level.
“This is a turning-point for thousands of prospective graduates who might otherwise have dropped out for lack of funds,” Sawyerr said in a statement. (Punch)
Education sector observers welcomed the announcement but cautioned that the challenge now shifts to repayment and sustainability. Professor Yemi Ojo, an analyst at the University of Lagos, noted:
“The disbursement is commendable, but unless mechanisms for monitoring defaulters and promoting capacity to repay are robust, the scheme risks becoming unsustainable.”
Another concern is that students in remote or underserved institutions might still face access gaps. NELFUND claims it is expanding its digital application platform and partnering with 12 more state-owned institutions to widen coverage. (Wikipedia)
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