Over 1.5 million students benefit from NELFUND’s disbursement of ₦282 billion in education loans nationwide, says official – THISAGE

The Nigerian Education Loan Fund (NELFUND) has announced that no fewer than 1.5 million students across 288 tertiary institutions in Nigeria have benefited from its student loan programme, with over ₦282 billion disbursed so far under the programme.

The disclosure was made by Mr Awati Muhammed, Loan Repayment and Reconciliation Officer at NELFUND, during a Democracy Day engagement organized by Northern Nigeria Students Union leaders in Yola, Adamawa State on Friday.

With the theme “Thank You President Tinubu for Making Democracy Work for Students,” the event brought together students and stakeholders to discuss the opportunities created by the Federal Government’s recent education interventions aimed at expanding access to higher education.

Speaking at the event, Muhammed said the student loan initiative was designed to remove long-standing financial barriers that have prevented many young Nigerians from pursuing tertiary education, describing the program as one of the flagship interventions under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

According to him, the Northern Project Coordination Office (NPCO), working in collaboration with NELFUND and the Presidential Initiative on Compressed Natural Gas (PI-CNG), has launched a large-scale awareness campaign in 25 universities in Northern Nigeria to deepen awareness on the interest-free education loan program and other education support initiatives introduced by the Federal Government.

He explained that the campaign was specifically aimed at educating students about eligibility requirements, application procedures and the broader benefits of the program, while encouraging wider participation among qualified applicants.

“The initiative is designed to raise awareness and encourage wider participation among eligible students. The program is helping to eliminate financial barriers that have historically prevented many young Nigerians from accessing tertiary education,” Muhammed said.

He further noted that the program is in line with the Tinubu administration’s commitment to improving access to quality education, while empowering young Nigerians through sustainable education financing.

Muhammed also reiterated NELFUND’s commitment to transparency and accountability in the implementation of the programme, assuring students that the agency will continue to engage institutions to ensure that no eligible beneficiary is left out.

He added that the ongoing outreach exercise would also provide opportunities for direct interaction between students, NELFUND officials and other stakeholders involved in the implementation process.

Abdulwahab Shehu, Head of NELFUND at Modibbo Adama University, described the initiative as a game changer in promoting equitable access to higher education across the country.

Urging students to seek adequate clarification on the loan programme’s eligibility conditions, repayment terms and application processes to make informed decisions before applying, Shehu encouraged qualified students to take full advantage of what he described as a rare opportunity to pursue their academic ambitions without being burdened by immediate financial constraints.

One of the beneficiaries, Abbas Aminu, a student of Modibbo Adama University, praised the programme, describing it as a timely intervention that has significantly eased the burden of tuition fees and other academic-related expenses.

Aminu said the loan support allowed him to focus more on his academic work, adding that the program substantially reduced financial pressures commonly associated with tertiary education in Nigeria.

The NELFUND student loan program remains one of the Tinubu-led federal government’s major education financing reforms, aimed at expanding access to university education while reducing the number of students forced to drop out due to economic hardship.

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