The Nigerian Education Loan Fund (NELFUND) announced on Thursday in Abuja that it has disbursed N116.184 billion as of January 1, 2025, to support students across 176,252 beneficiary institutions nationwide.
Akintunde Sawyer, NELFUND’s Managing Director, disclosed this during a budget defense session before the National Assembly Joint Committee on Tertiary Institutions and TETFUND. He explained that N37.7 billion of the total amount was allocated to institutional loans.
Sawyer revealed that 352,796 students applied for the loans, with 108,484 applicants successfully receiving funding.
