The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N299,504,050 in two tranches as student loans for 2,955 students of the Federal University of Agriculture, Abeokuta (FUNAAB), Ogun State.
In the first tranche, NELFUND announced on its X handle on Monday, March 24, 2025, that N133,995,450.00 was paid into the institution’s bank account to cover institutional loans (tuition fees) for 1,317 undergraduate students.
The second tranche, amounting to N165,508,600.00, was disbursed to settle tuition fees for an additional 1,638 undergraduate students. This latest disbursement brings the total amount paid on behalf of FUNAAB students to N299,504,050. Last week, NELFUND disbursed about N490 million to students of LAUTECH (Ladoke Akintola University, Ogbomoso, Oyo State).
Other Institutions Also Benefit
Similarly, the education loan agency revealed that it has also disbursed funds for students at Nnamdi Azikiwe University, Awka; Zamfara State University, Talata; and Ramat Polytechnic, Maiduguri.
- N50,410,000.00 was allocated for the tuition fees of 380 students at Nnamdi Azikiwe University, Awka.
- N34,650,350.00 was disbursed to cover tuition fees for 577 students at Zamfara State University, Talata.
- N453,000.00 was provided to pay tuition for 15 students at Ramat Polytechnic, Maiduguri.
About NELFUND
NELFUND is a Nigerian government student aid initiative designed to provide interest-free loans to undergraduate students in public institutions across the country.
The program, which began in 2024, has disbursed billions of naira in student loans so far. It features two categories: institutional loans (for tuition fees) and upkeep loans (for living expenses).
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