The Nigerian Education Loan Fund (NELFUND) has disbursed ₦135.54 million to 1,298 students across three tertiary institutions as part of efforts to improve access to higher education. This latest disbursement includes beneficiaries from the College of Education, Billiri, Gombe State; the African Aviation and Aerospace University, Abuja; and Niger Delta University.
A breakdown of the payments shows that the College of Education, Billiri, received ₦2.5 million for 163 students. The African Aviation and Aerospace University received ₦6.97 million for 10 beneficiaries, while Niger Delta University received ₦126.07 million for 1,125 students. This initiative aims to expand financial assistance for Nigerian students seeking to cover the costs of tertiary education.
Nigeria’s Education Loan Fund Disbursement Details
NELFUND disclosed the recent disbursement in announcements on its official social media platforms on Saturday, November 14, 2026. The total disbursement of ₦135.54 million supports 1,298 beneficiaries across the three institutions. This funding is part of a broader effort to enhance access to higher education in Nigeria.
The student loan scheme continues to grow, reflecting the increasing demand for financial support among students and families facing rising education costs. NELFUND recorded 8,397 student loan applications in a single day, marking its highest daily application figure since the scheme’s inception.
Nigeria: Key figures on Education Loan Fund
- ₦135.54 million total disbursed to students
- ₦2.5 million for 163 students at College of Education, Billiri
- ₦126.07 million for 1,125 students at Niger Delta University
Context of NELFUND’s Expansion
The student loan programme was established to provide financial assistance to eligible Nigerian students in public tertiary institutions. It covers tuition fees and approved upkeep allowances, with payments made directly to participating institutions. Unlike scholarships, these loans are repayable based on beneficiaries’ employment and income circumstances.
As more institutions and students engage with the programme, NELFUND has reported progress in its disbursement activities. However, the scheme’s effectiveness relies on efficient payment administration, timely application processing, and adequate funding to meet the needs of eligible beneficiaries.
Next Steps for NELFUND
- Continue expanding the reach of the student loan scheme
- Improve payment administration and application processing
- Ensure adequate funding for eligible beneficiaries
The Nigerian Education Loan Fund is making strides to enhance access to higher education for students across the country.
