By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: NELFUND Disburses N116.2bn in Student Loans, Gets N58.4bn Budget Approval
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | NELFUND Disburses N116.2bn in Student Loans, Gets N58.4bn Budget Approval

News

NELFUND Disburses N116.2bn in Student Loans, Gets N58.4bn Budget Approval

Olaitan Sodiq
Olaitan Sodiq
Published: June 15, 2025
Last updated: June 15, 2025
2 Min Read
Share
NELFUND Disburses N116.2bn in Student Loans, Gets N58.4bn Budget Approval
NELFUND Disburses N116.2bn in Student Loans
SHARE
  • NELFUND has disbursed N116.184 billion in student loans to 176,252 beneficiary institutions across the country as of January 1, 2025.

  • Akintunde Sawyer disclosed that out of the disbursed amount, N37.7 billion was spent on institutional loans.

  • The National Assembly Joint Committee on Tertiary Institutions and TETFUND has approved NELFUND’s 2025 budget proposal of N58.4 billion.

The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N116.184 billion in student loans to 176,252 beneficiary institutions across the country as of January 1, 2025.

NELFUND Managing Director Akintunde Sawyer disclosed this information during a budget defense session before the National Assembly Joint Committee on Tertiary Institutions and TETFUND.

According to Sawyer, out of the disbursed amount, N37.7 billion was spent on institutional loans, while 108,484 students were granted loans out of 352,796 applicants.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

“Out of the N58.4 billion budgetary proposal for 2025, N12.2 billion is earmarked for personnel cost, N24.7 billion for overhead cost, and N21.4 billion for capital expenditure,” Sawyer explained.

The National Assembly Joint Committee on Tertiary Institutions and TETFUND has approved NELFUND’s 2025 budget proposal of N58.4 billion.

READ ALSO: NELFUND Lists Requirements to Apply For Students Loan

Senator Muntari Dandutse, chairman of the joint committee, emphasized the need for transparency in the agency’s spending.

NELFUND Disburses N116.2bn in Student Loans, Gets N58.4bn Budget Approval
NELFUND Disburses N116.2bn in Student Loans

“We will examine NELFUND’s financial plan for the upcoming fiscal year to evaluate its alignment with national educational goals and its capacity to meet the growing demands for student loans,” Dandutse said.

NELFUND Disburses N2bn to 6 Institutions

The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of N2,026,163,340 to six institutions as institutional fees.

NELFUND released the list of beneficiary institutions on its official social media handle on Saturday.

Continue Reading Here

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:NELFUNDTETFUNDTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

“Worth Every Euro, But…” – Özat Raises Alarm Over Osimhen’s Transfer | Daily Report Nigeria
“Worth Every Euro, But…” – Özat Raises Alarm Over Osimhen’s Transfer
Sports
Senator Shehu Sani Slams Kemi Badenoch Over Identity Disavowal | Daily Report Nigeria
Senator Shehu Sani Slams Kemi Badenoch Over Identity Disavowal
News
Why Peter Obi Cannot Win 2023 Presidency - Soludo
Soludo Blasts One-Term Politicians, Says They Need Psychiatric Evaluation
Politics
2025 Women’s AfroBasket: Nigeria Power Past Senegal to Reach Final | Daily Report Nigeria
2025 Women’s AfroBasket: Nigeria Power Past Senegal to Reach Final
Sports
Nurses Suspend Nationwide Strike as Doctors Threaten Fresh Industrial Action August 17 | Daily Report Nigeria
Nurses Suspend Nationwide Strike as Doctors Threaten Fresh Industrial Action August 17
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

NRC Grants Historic Operational Licences for Lagos Metro Lines | Daily Report Nigeria
Metro

NRC Grants Historic Operational Licences for Lagos Metro Lines

May 26, 2025
Assistant Commissioner of Police Killed Amid Cult War in Edo | Daily Report Nigeria
Metro

Assistant Commissioner of Police Killed Amid Cult War in Edo

June 4, 2025
Buni on Mission To Kill APC - Marafa | Daily Report Nigeria
NewsPolitics

Buni on Mission To Kill APC – Marafa

June 15, 2025
"I won't bury My Son Even If It Takes 30 Years" - Father of Late Sylvester Oromoni Says, Continues to Demand Justice | Daily Report Nigeria
News

“I won’t bury My Son Even If It Takes 30 Years” – Father of Late Sylvester Oromoni Says, Continues to Demand Justice

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?