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 N84.2 Billion to Over 258,000 Students
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 N84.2 Billion to Over 258,000 Students

News

NELFUND Disburses N84.2 Billion to Over 258,000 Students

Olaitan Sodiq
Olaitan Sodiq
Published: June 13, 2025
Last updated: June 13, 2025
3 Min Read
Share
NELFUND Disburses N84.2 Billion to Over 258,000 Students | Daily Report Nigeria
SHARE

The Nigerian Education Loan Fund (NELFUND) has successfully disbursed a total of N84.2 billion to 258,943 students as part of a new initiative aimed at increasing access to higher education across the country.

Senator Gboyega Isiaka, the House of Representatives Committee Chairman on Polytechnic and Higher Technical Education, announced this development at the 36th annual conference of the Federal Government College, Maiduguri Old Students Association in Abeokuta on Saturday.

As of September 2024, a total of 351,317 students have registered on the NELFUND portal, with 258,943 applying for loans for institutional and upkeep purposes.

The disbursed amount includes N27.5 billion for institutional loans and N56.7 billion for upkeep facilities.

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

“This is more than just a statistic – it represents hope, opportunity, and a commitment to empowering our students to succeed,” Isiaka stated, highlighting the positive impact of the program under President Bola Ahmed Tinubu’s administration.

The recently introduced Student Loan Access to Higher Education Act, 2024, aims to eliminate barriers that previously hindered student applicants, including those related to parental loan history and income thresholds.

The lawmaker emphasized that the revised guidelines allow all Nigerian students to apply for loans and accept responsibility for repayment based on the Fund’s regulations.

Beneficiaries will start repayment two years after completing their National Youth Service Corps, with provisions for extensions for those facing financial difficulties.

Additionally, loans will be forgiven in cases of death or circumstances beyond the borrower’s control, although fraudulent statements may result in a three-year prison sentence.

This revitalization of the student loan program, which originally began in 1972 but was later suspended, is seen as a transformative step towards providing affordable and quality higher education in Nigeria.

Mr. Chris Abu, National President of the Federal Government College, Maiduguri Old Students Association, addressed the challenges of insecurity affecting education in Nigeria, noting a significant demographic shift in student populations at unity schools.

READ ALSO: NELFUND Receives N50bn Boost from EFCC for Student Loans

“The essence of unity school is to bring together students of diverse backgrounds and ethnicity, promoting the unity of the country,” he said, urging collective efforts to address educational infrastructure and resources.

Professor Joy Odedina, an alumna of the college, called for the return of history to the school curriculum, stressing the importance of a well-rounded education that fosters national identity and integration.

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:NELFUNDTop 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

African Fencing : Egypt Dominate with Five Golds in Lagos | Daily Report Nigeria
African Fencing : Egypt Dominate with Five Golds in Lagos
Sports
Kano Billionaire Aminu Dantata Dies at 94 in Abuja | Daily Report Nigeria
Kano Billionaire Aminu Dantata Dies at 94 in Abuja
News
IED explosion kills 4, injures 21 in Yobe | Daily Report Nigeria
IED explosion kills 4, injures 21 in Yobe
News
Transfer: Super Eagles Striker Paul Onuachu Seals Trabzonspor Move | Daily Report Nigeria
Transfer: Super Eagles Striker Paul Onuachu Seals Trabzonspor Move
Sports
Tinubu Jets Out for Saint Lucia, Brazil BRICS Summit Today | Daily Report Nigeria
Tinubu Jets Out for Saint Lucia, Brazil BRICS Summit Today
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

DSS Raids Emefiele's House, Recover 18 Bags of Money, Documents
News

Emefiele Financed Terrorism, Laundered Money, DSS Insists

June 14, 2025
PDP Will Lose 2023 Election Without Zoning - Fidelis Tapgun | Daily Report Nigeria
Politics

PDP Extends Tenures of North West Zone, Lagos State Caretaker Committees

June 13, 2025
BREAKING: Ohanaeze President General, George Obiozor, is Dead | Daily Report Nigeria
News

BREAKING: Ohanaeze President General, George Obiozor, is Dead

June 14, 2025
Treat Military Plane Crashes as National Emergency, CAN Tells Buhari | Daily Report Nigeria
News

Treat Military Plane Crashes as National Emergency, CAN Tells Buhari

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?