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NELFUND supports 396,252 students with ₦73.2bn interest-free loans

Fadiran Ifeloluwa July 18, 2025

In its first year of operation, the Nigerian Education Loan Fund (NELFUND) has disbursed over ₦73.2 billion in interest-free loans to 396,252 students across all 36 states and the Federal Capital Territory. This achievement was announced on Thursday during a press briefing in Abuja by the

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NELFUND Resumes Upkeep Payments to Over 3,600 Students

Fadiran Ifeloluwa July 11, 2025

The Nigerian Education Loan Fund (NELFUND) has announced the successful resumption of upkeep payments to student beneficiaries who updated their bank details from digital wallet platforms to commercial bank accounts. Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, made this known in a statement on Friday in Abuja, describing the development as a

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NELFUND cautions students against fake student loan portal

Fadiran Ifeloluwa June 30, 2025

The Nigerian Education Loan Fund (NELFUND) has issued a warning to students to beware of a fake portal spreading deceptive messages on the internet. This was stated in Abuja on Monday in a statement released by the fund’s director of strategic communications, Mrs Oseyemi Oluwatuyi. Oluwatuyi noted that the information shared in the circulating online […]

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NELFUND starts distributing April upkeep payments to student beneficiaries

Fadiran Ifeloluwa May 21, 2025

The Nigerian Education Loan Fund (NELFUND) has begun distributing upkeep payments for April 2025 to qualified student recipients throughout the nation. This information was shared in a statement released on Monday in Abuja by Mrs. Oseyemi Oluwatuyi, who serves as the Director of Strategic Communications at NELFUND. She noted that although the majority of the […]

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NELFund Reports Receiving Over 1,800 Student Loan Requests Each Day

Fadiran Ifeloluwa May 7, 2025

The Nigerian Education Loan Fund (NELFund) has announced that more than 500,000 students are currently using its platform and benefiting from its loan program, with a daily average of 1,800 new loan requests. This update was shared by the Managing Director and Chief Executive Officer of NELFund, Akintunde Sawyerr, on Tuesday in Abuja while addressing […]

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NELFUND Promises Easier Student Loan Access via Technology-Driven Platform

Fadiran Ifeloluwa May 7, 2025

The Nigerian Education Loan Fund (NELFUND) has pledged its dedication to creating a tech-based system that will make it easier for Nigerian students to access loan services. This promise was made by NELFUND’s Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, during a technical workshop and stakeholder meeting held in Abuja with participants from […]

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NANS Threatens Protest Over Alleged Diversion of Student Loan Funds

Fadiran Ifeloluwa April 18, 2025

The leadership of the National Association of Nigerian Students has demanded an investigation into claims that some tertiary institutions are misappropriating student loan funds. The association has also threatened to hold a large-scale protest on April 24 to push for accountability from institutions found guilty. Additionally, it called on President Bola Tinubu to

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Student loan: Some tertiary institutions are cheating students, says NOA

Fadiran Ifeloluwa April 14, 2025

Recent findings from the National Orientation Agency (NOA) have uncovered that certain universities and financial institutions are working together to cheat students out of their entitled Federal Government Student Loan Funds. This was revealed in a new report shared by the Community Orientation and Mobilisation Officers (COMO) of NOA. The Director General of NOA, Mallam

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Student Loan: NELFUND to End 2023/2024 Application Cycle on February 21

Fadiran Ifeloluwa February 18, 2025

The Nigerian Education Loan Fund (NELFUND) has announced that the student loan application cycle for the 2023/2024 academic year will close on February 21, while applications for the 2024/2025 cycle will begin on February 22. During a press conference in Abuja yesterday, NELFUND’s Managing Director, Akintunde Sawyerr, stated that the transition to the 2024/2025 cycle […]

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NELFUND: Students express frustration over loan delays as exams approach

Fadiran Ifeloluwa February 15, 2025

Students from at least 23 public universities and polytechnics have expressed concerns over the delayed release of their approved institutional loans from the Nigerian Education Loan Fund, as deadlines for tuition payments and upcoming examinations draw closer. On April 3, 2024, President Bola Tinubu signed the Students Loan (Access to Higher Education) (Repeal and

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NANS Urges Southern Students to Apply for Student Loan Scheme

Fadiran Ifeloluwa January 20, 2025

The National Association of Nigerian Students (NANS) has urged students in southern Nigeria to take advantage of the Nigerian Education Loan Fund (NELFUND) to alleviate financial challenges in their educational pursuits. This appeal was made in a statement issued on Monday by Abdul-Yekinn Odunayo, the Clerk of the Senate at NANS National headquarters, in Abeokuta, […]

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AGF Fagbemi warns beneficiaries against abusing NELFund

Fadiran Ifeloluwa October 19, 2024

The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, has warned against the misuse of the Nigerian Education Loan Fund (NELFund), a significant project of President Bola Ahmed Tinubu’s administration that has disbursed loans totalling N84.2 billion. Speaking at the 39th Convocation Lecture of the University of Ilorin on Friday, the

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NELFUND disburses N84.2 billion to 258,943 students — Reps member

Fadiran Ifeloluwa October 7, 2024

Mr Gboyega Isiaka, Chairman of the House of Representatives Committee on Polytechnic and Higher Technical Education, has revealed that the Nigerian Education Loan Fund, NELFUND, has disbursed N84.2 billion to applicants as of September 2024, with N27.5 billion and N56.7 billion in institutional and upkeep facilities, respectively. Isiako, who made the announcement at the

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FG proposes 30% TETfund allocation for student loans

Fadiran Ifeloluwa September 26, 2024

The Federal Executive Council is proposing a bill that will direct 30% of Tertiary Education Trust Fund allocations to the Student Loan Scheme. The bill aims to amend Section 3 of the Tertiary Education Trust Fund Act No. 16, 2011, titled ‘Establishment of the Tertiary Education Trust Fund.’ Mr. Bayo Onanuga, Special Adviser to the […]

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NANS seeks review of student loan amid fuel price hike

Fadiran Ifeloluwa September 10, 2024

The National Association of Nigerian Students (NANS) has urged the Federal Government to increase the N20,000 stipend paid to student loan recipients by the Nigerian Education Loan Fund (NELFUND) to N40,000. NANS Senate President Akinteye Babatunde stated that this will allow students to adjust to the recent increase in petrol pump prices by the Nigerian National Petroleum

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Umeh warns scholarship students not to apply for the FG loan scheme

Fadiran Ifeloluwa September 6, 2024

Senator Victor Umeh of Anambra Central Senatorial Zone has advised students in his scholarship program not to apply for the federal government’s student loan plan. Umeh made this statement yesterday during the Anambra Central Scholarship Programme in Awka, which benefited 223 students from various tertiary institutions across the zone’s seven local

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Kano, Borno, Benue indigenes top student loan applicants’ list

Fadiran Ifeloluwa August 30, 2024

Nigerian students from Kano, Borno, and Benue states are the top three applicants of the student loan scheme, data from the Nigerian Education Loan Fund has revealed. NELFUND, in a data chart posted via its official X handle, @nelfnigeria on Friday, highlighted the number of applicants per state of origin. According to the data chart, […]

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Lawmaker warns against politicising students’ loan scheme

Fadiran Ifeloluwa August 26, 2024

Terseer Ugbor (APC-Benue), a member of the House of Representatives, has warned against politicising the disbursement of loans to students at educational institutions across the country. In a statement issued on Friday, Mr Ugbor, who represents the Kwande/Ushongo Federal Constituency in Benue State, requested openness and transparency in the management and dispensing of

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Student loan: N20,000 monthly stipend may be increased, according to NELFUND

Fadiran Ifeloluwa August 15, 2024

The Nigerian Education Loan Fund stated that it would regularly review Nigerian students’ N20,000 monthly stipends depending on economic realities. Oseyemi Oluwatuyi, the Fund’s Director of Corporate Communications, confirmed this in an interview with our correspondent in Abuja on Wednesday. In addition to institutional fees, student loan candidates can apply

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FG approves 22 more state-owned institutions for student loans (Full List)

Fadiran Ifeloluwa August 14, 2024

The Nigerian government has approved 22 more state-owned tertiary institutions across the country to apply for student loans. The institutions were cleared on Wednesday, August 14, by the Nigerian Education Loan Fund (NELFUND), the body in charge of handling all loan requests, grants, disbursement, and recovery. In a statement posted on X, NELFUND stated that the