POLITICAL Economy

Student Loan: NELFUND Disburses N282 Billion to Beneficiaries

by admin on | 2026-06-16 09:42:30

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 7

---

Student Loan: NELFUND Disburses N282 Billion to Beneficiaries

By Mohammad Bala Imam

The National Assembly (NASS) is collaborating with the Nigerian Education Loan Fund (NELFUND) to expand the scheme from 1.6 million direct beneficiaries to 7 million, as part of efforts toward real national transformation.

This comes as the Managing Director of NELFUND, Akintunde Sawyerr, disclosed that the scheme—having disbursed ₦282 billion so far—could ultimately reach 50 million beneficiaries through planned expansion into skills acquisition and technical, vocational education and training.

Speaking at a one-day national sensitization programme on student loans, organized by the Senate Committee on Tertiary Education and TETFUND in collaboration with NELFUND, the Deputy President of the Senate, Jibrin Barau, said the initiative was timely, noting that many indigent Nigerians are awaiting such intervention.

“No matter how beneficial a programme is, if the intended beneficiaries are not adequately informed about it, its impact will be limited.

“People need to understand what the programme entails and how they can access it.

“That is exactly what this sensitization campaign is all about and should be taken round the entire six geo-political zones,” he said.

In his remarks, Chairman of the House Committee on Student Loans, Scholarships and Tertiary Education Financing, Ifeoluwa Eyindero, also described the programme as timely and important.

“This sensitization programme is both timely and important, as it helps create awareness and deepen understanding of the opportunities available to students through the scheme.

“The Fund has recorded the remarkable achievement of reaching over 1.5 million beneficiary students and disbursing more than ₦282 billion to support Nigerian scholars,” he said.

Providing further statistics, Sawyerr stated that 1.6 million Nigerian students have directly benefited from the scheme so far, translating to about 10 million people impacted indirectly.

“Today, 1.6 million Nigerian students have directly benefited from the NELFUND scheme.

“If we consider that the average Nigerian family consists of about five people, it means we are directly and indirectly impacting nearly 10 million lives.

“We are, however, appealing to stakeholders on the need to expand the student loan scheme to target up to 7 million beneficiaries across Nigerian tertiary institutions and vocational centres for the required drive and real national transformation,” he said.

Earlier, in his welcome address, the Chairman of the Senate Committee on TETFUND, Senator Muntari Dandutse, said the collaborative sensitization programme was in furtherance of the committee’s constitutional oversight responsibilities and its commitment to ensuring equitable access to education for all Nigerians.