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NELFUND has disbursed over N20 billion in institutional fees to tertiary institutions nationwide.
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The fund has benefited 192,906 students, with an additional N12 billion disbursed as stipends to 169,114 students.
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NELFUND clarified that reports of N104 billion disbursed were inaccurate.
The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of over N20 billion in institutional fees to tertiary institutions nationwide, benefiting 192,906 students.
In a statement released by its management in Abuja, NELFUND addressed widespread misconceptions about the total amount disbursed.
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“As of February 3, 2025, NELFUND has received a total of 364,042 student loan applications. So far, the Fund has disbursed a total of N20,074,050,000 for institutional fees, benefiting 192,906 students across various tertiary institutions,” the statement read.
Beyond tuition fees, the Fund has also provided financial support for students’ upkeep, disbursing over N12 billion in stipends.
“NELFUND has disbursed N12,818,960,000 to 169,114 students, each receiving a monthly stipend of N20,000,” the statement added.
NELFUND Disburses N116.2bn in Student Loans, Gets N58.4bn Budget Approval
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.
