Nigerian Education Loan Fund (NELFUND) has reported that the total student loan disbursements for the current funding cycle have reached N54.2 billion. This amount includes payments made for both tuition and upkeep allowances to students across the country.
According to figures released by NELFUND, as of April 29, 2025, a total of N30.18 billion has been paid directly to institutions to cover tuition fees, while N24.04 billion has been provided as upkeep allowances to students. Together, these sums add up to the N54.2 billion disbursed so far.
The fund also shared that 596,061 students registered for the loan program this cycle. Out of these, 546,511 students successfully applied for the loan, showing a high application success rate of 91 percent among those who registered.
Managing Director of NELFUND, Mr. Akintunde Sawyerr, described the progress as encouraging. He urged students who have not yet applied to take full advantage of the loan scheme, which aims to support their education and prepare them for future opportunities. He also called on school managements and students to provide accurate and timely information to help speed up the loan process and avoid unnecessary delays.
NELFUND has directed schools to promptly refund students who had to pay tuition fees out of pocket before the loan disbursement was completed. This is meant to ease the financial burden on students while the system improves.
In a recent engagement at The Polytechnic, Ibadan, the Director of Monitoring and Evaluation at NELFUND, Aliyu Mohammed, noted that efforts to improve the loan disbursement system have been consistent. He said, “Except for unexpected challenges or errors from the schools, disbursements of loans including tuition fees to schools would take place within five working days.”
Mohammed also asked schools and students to help by supplying accurate information on time. He confirmed that thousands of students have benefited from the loan program, and more than 6,000 applications are currently being processed.
Addressing recent concerns, the Acting Rector of The Polytechnic, Ibadan, Dr. Abiden Taiwo Lasis, apologized for the confusion caused by delayed disbursements. He explained that the school had to ask students to pay some fees because of an eight-month delay from NELFUND. However, he expressed confidence that with the recent improvements, the school would rely on NELFUND for timely payments in the future.
Meanwhile, the Director of ICT at the polytechnic, Dr. Florence Babalola, shared that the process to refund about 25 students who had already paid tuition fees is ongoing. Students affected have been asked to complete the necessary paperwork at the students’ affairs department.
Oladipupo Daniel, President of the Students Union Government, said he has been active in raising awareness about the loan scheme. He promised to continue encouraging more students to apply so they can benefit from the program.
