Emamuzo Iboma
The Nigerian Education Loan Fund (NELFUND) has announced that student loan disbursements for the current cycle have reached N54.2 billion. As of April 29, 2025, N30.18 billion was paid as institutional fees to various institutions, while N24.04 billion was allocated for students’ upkeep allowances, bringing the total disbursed funds to N54.22 billion.
According to NELFUND data, over 596,000 students have registered for the loan scheme, with 546,511 applications received, representing a 91% success rate among registrants. Managing Director Akintunde Sawyerr described this progress as encouraging and urged interested students to seize the opportunity to enhance their educational prospects.
NELFUND also called on students and school management to collaborate by providing accurate and timely information to streamline disbursement processes. School authorities were advised to refund students who had paid tuition fees before fund disbursement to avoid delays.
Aliyu Mohammed, Director of Monitoring and Evaluation, emphasised that NELFUND has continually improved its systems to ensure efficient and effective service delivery. He assured that, barring unforeseen challenges or school-related errors, loan disbursements—including tuition fees—would be completed within five working days. This statement was made during a strategic engagement with management and students of The Polytechnic, Ibadan, Oyo State.
During the interactive session, Mohammed reaffirmed that application procedures and conditions remain unchanged, with ongoing investments to enhance system efficiency and timeliness. He disclosed that over 6,000 students had successfully submitted loan applications that are currently being processed and appreciated the cooperation of school management in facilitating the scheme.
Acting Rector of The Polytechnic, Ibadan, Dr. Abiden Taiwo Lasis, apologized for recent delays and miscommunications regarding tuition fee notifications, attributing the issues to the eight-month delay in accessing funds. He explained that the institution had to ask students to pay fees out of pocket to maintain operations, including salaries and utility bills. However, he expressed confidence that with NELFUND’s commitment to prompt disbursement, future delays would be minimized.
Dr. Lasis also commended NELFUND’s recent workshop in Abuja, which clarified process details and strengthened collaboration. Additionally, Dr. Florence Babalola, the school’s ICT Director, confirmed that refunds are ongoing for approximately 25 students who paid tuition fees before receiving their loan funds.
Oladipupo Daniel, President of the Students Union Government (SUG), highlighted their efforts in sensitizing students about the loan scheme, which has contributed to increased applications. He pledged to continue outreach initiatives to ensure more students benefit from the program.
NELFUND remains committed to enhancing access to education through timely and efficient student loan disbursements, supporting Nigeria’s future leaders.
