NELFUND hits N282bn as 1.5 million students benefit

The Nigerian Education Loan Fund (NELFUND) has disclosed that no fewer than 1.5 million students across 288 tertiary institutions have benefited from its loan scheme, with over N282 billion disbursed nationwide.

NELFUND’s Head of Loan Repayment and Reconciliation, Awati Muhammed, made this known during a Democracy Day engagement organised by student union leaders across Northern Nigeria in Yola, the Adamawa State capital, on Friday, June 12, 2026.
According to Muhammed, the engagement was designed to bring students and stakeholders together to discuss educational opportunities available through various Federal Government initiatives.
He revealed that the Northern Project Coordination Office (NPCO), in partnership with NELFUND and the Presidential Initiative on Compressed Natural Gas (PI-CNG), has launched a sensitisation campaign across 25 universities in Northern Nigeria.
Muhammed explained that the campaign is intended to educate students on the benefits of the interest-free education loan programme and other government interventions within the education sector.
“The outreach is designed to increase awareness and encourage wider participation among eligible students,” he said.
He added that the scheme is helping to remove financial barriers that have long prevented many young Nigerians from accessing tertiary education.
“The programme aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises access to quality education and youth empowerment,” Muhammed stated.
The NELFUND official reaffirmed the agency’s commitment to transparency and accountability in implementing the loan scheme.
He further noted that the sensitisation campaign would provide students with opportunities to engage directly with NELFUND officials and other stakeholders.
Muhammed assured students that the campaign would continue across institutions in Northern Nigeria to ensure that every eligible beneficiary has access to the programme.