The Nigerian Education Loan Fund (NELFund) has approved the disbursement of ₦20,075,050,006.55 in loans to 192,906 students enrolled in public tertiary institutions across the country.
In an announcement shared via its X (formerly Twitter) handle on Monday, NELFund confirmed the disbursement as of January 1, 2025.
Bayero University, Kano, emerges as the primary beneficiary, with 11,683 students approved to receive a total of ₦1.3 billion. Following closely is the University of Maiduguri, where 12,198 students will share ₦1.27 billion. Additionally, 6,988 students at the University of Jos are set to receive ₦941 million, while 8,978 students from Federal University Dutsin-Ma will benefit from ₦909 million.
At the University of Ibadan, 4,907 students will receive ₦746 million, and 5,451 students of Federal University Dutse will share ₦593 million. Usmanu Danfodiyo University, Sokoto, has 6,480 students slated to get ₦578 million, while the University of Lagos will disburse ₦557 million to 3,685 students.
Institutions with fewer beneficiaries include Gombe State Polytechnic, Bajoga, where four students will receive ₦122,000, and Abia State Polytechnic, where two students will receive ₦106,300. Nwafor Orizu College of Education, Nsugbe, will disburse ₦214,116 to three students, while Kenule Benson Saro-Wiwa Polytechnic, Bori, will provide ₦315,500 to seven students.
At the Federal College of Education, Gidan Madi, three students will receive ₦330,000, while 11 students from Federal Polytechnic Ukana, Akwa Ibom State, will share ₦518,500. Additionally, nine students from Federal Polytechnic Nekede, Imo State, will get ₦368,400, and 12 students at Alvan Ikoku Federal University of Education, Owerri, will receive ₦528,500.
In December 2024, NELFund’s Managing Director, Akintunde Sawyerr, announced the distribution of ₦110 billion in loans to students across Nigeria, further underscoring the Fund’s commitment to supporting education.
BUK tops beneficiaries as NELFund disburses ₦20bn in student loans
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