The Nigerian Education Loan Fund has approved the disbursement of N20,075,050,006.55 to 192,906 students enrolled in public tertiary institutions across the federation.
According to an update by NELFund on X (formerly Twitter) revealed that the fresh disbursement was released to 133 tertiary institutions as of January 1, 2025.
The significant funding aims to support students in need, bridging the financial gap, and enabling them to pursue their academic dreams without undue financial burdens.
According to the breakdown, Bayero University, Kano got the lion’s share with 11,683 students receiving a total of N1.3 billion, while Abia State Polytechnic got the smallest disbursement of N106,300 to two students.
The second largest beneficiary was the University of Maiduguri, where 12,198 students shared N1.27 billion.
The University of Jos had 6,988 students receiving N941 million, while 8,978 students of Federal University Dutsin-Ma benefitted N909 million.
At the University of Ibadan, 4,907 students received N746 million, and 5,451 students of Federal University Dutse shared N593 million. Usmanu Danfodiyo University, Sokoto, had 6,480 students getting N578 million, while the University of Lagos disbursed N557 million to 3,685 students.
Other institutions with fewer beneficiaries include Gombe State Polytechnic, Bajoga (N122,000 to four students), Nwafor Orizu College of Education, Nsugbe (N214,116 to three students), and Kenule Benson Saro-Wiwa Polytechnic, Bori (N315,500 to seven beneficiaries).
President Bola Tinubu had last April signed into law the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.
