The Federal Government, through the Nigerian Education Loan Fund (NELFUND), has disbursed more than N80 billion to various tertiary institutions across the country to support the rollout of its student loan scheme. The initiative is a key component of President Bola Ahmed Tinubu’s commitment to expanding access to higher education and reducing financial barriers for students.
According to NELFUND, the funds are being provided directly to accredited institutions to cover tuition fees for eligible students, ensuring that beneficiaries can focus on their studies without the burden of upfront payments. The loan scheme is designed to cater to students in federal and state-owned universities, polytechnics, and colleges of education, with provisions for future expansion to other categories of learners.
This disbursement marks a major milestone in the government’s efforts to operationalise the student loan policy, which aims to promote equal access to education regardless of economic background. By partnering with institutions directly, the scheme ensures transparency, reduces administrative bottlenecks, and guarantees that funds are applied strictly for educational purposes.
NELFUND emphasised that the student loan programme is part of a broader education reform agenda under President Tinubu’s Renewed Hope vision. The government aims to empower Nigerian youths with the knowledge and skills needed to drive economic growth, foster innovation, and compete effectively on the global stage.