The Nigerian Education Loan Fund (NELFUND) has disbursed ₦116.18 billion to support students and institutions nationwide as of January 2025.
Established under President Tinubu’s administration, the fund aims to make higher education accessible through interest-free loans.
Speaking before the National Assembly’s Tertiary Institutions Committee, NELFUND’s Managing Director, Akintunde Sawyer, revealed that ₦37.7 billion was allocated to institutions, while 108,484 student applications were approved from 352,796 submissions.
For 2025, NELFUND has proposed a ₦58.4 billion budget, allocating ₦12.2 billion for personnel, ₦24.7 billion for overhead, and ₦21.4 billion for capital projects.
Senator Dandutse Muntari approved the proposal, highlighting the need for accountability to meet student needs.
