Student loan: We’ve disbursed N116.184bn so far – NELFUND

• NELFUND disbursed N116.184 billion to support students across 176,252 beneficiary institutions, with 108,484 students receiving loans
• The agency’s 2025 budget of N58.4 billion includes allocations for personnel, overhead, and capital expenditure

The Nigerian Education Loan Fund (NELFUND) has revealed that it has disbursed N116.184 billion to support students across beneficiary institutions nationwide. As of January 1, 2025, this figure underscores NELFUND’s efforts to ease students’ financial burdens.

Akintunde Sawyer, the Managing Director of NELFUND, shared these details during the 2025 budget defense session with the National Assembly Joint Committee on Tertiary Institutions and TETFund held in Abuja. Sawyer said 352,796 students applied for the loans, but only 108,484 benefited.

For the 2025 fiscal year, NELFUND has been allocated a budget envelope of N58.4 billion. Breaking down the allocation, Sawyer stated that N12.2 billion is for personnel costs, N24.7 billion for overhead expenses, and N21.4 billion for capital projects.

Following discussions on the agency’s budget proposal, the joint committee approved the plan through a voice vote.