The Nigerian Education Loan Fund (NELFUND) has revealed that 500,341 undergraduate students across Nigeria’s higher institutions have applied for student loans in the past 11 months.
This was disclosed in a statement signed by NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, on Friday, April 25, 2025.
She quoted the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr, as saying that the milestone is “a signal of hope for families across Nigeria,” noting that demand for the loan continues to grow among undergraduate students.
As of April 24, 2025, NELFUND had disbursed ₦30,179,797,649.20 to successful applicants as institutional loans, while ₦23,652,740,000 had been disbursed as upkeep loans, bringing the total amount disbursed in the last 11 months to ₦53,832,537,649.20.
The statement reads: “Since the launch of the portal, students across the country have actively engaged with the application process for both institutional and upkeep loans, demonstrating the relevance and urgency of the Fund’s efforts.”
The Director of Strategic Communications also called on all stakeholders to join in supporting the vision of equitable education for all.
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