Student loan: 18,998 students benefit as FG disburses N2.146bn
The Federal Government has distributed N2.14 billion in student loans, benefitting approximately 18,998 students.
The Nigerian Education Loan Fund on Friday, announced this development on its X, noting that this disbursement has extended to 40 additional higher institutions, raising the total number of institutions benefiting from the fund to 59.
This development underscores NELFUND’s dedication to improving access to higher education for all Nigerian students, especially those facing financial challenges.
In a statement celebrating this achievement, NELFUND said, “NELFUND is pleased to announce that it has successfully disbursed Student Loans to 40 additional institutions, bringing the total disbursements to institutions to 59. This expansion marks a significant milestone in NELFUND’s ongoing commitment to providing access to quality education for all Nigerian students, regardless of their financial circumstances.”
This announcement highlights NELFUND’s significant progress in creating more opportunities for students across Nigeria to pursue higher education.
The newly benefiting institutions span across various states, further solidifying the fund’s national impact.
Below is a breakdown of the newly added institutions and the corresponding disbursed amounts:
1. Federal Polytechnic Nekede, Imo State – N368,400
2. Federal University of Health Science, Ila Orangun, Osun State – N7,448,000
3. Federal University Wukari, Taraba State – N97,398,000
4. Olabisi Onabanjo University, Ogun State – N7,265,000
5. University of Ibadan, Oyo State – N9,797,450
6. Osun State University, Osun State – N218,954,500
7. Usmanu Danfodio University, Sokoto State – N226,931,440
8. Zamfara State University, Zamfara State – N2,340,800
9. Delta State University, Abraka, Delta State – N45,973,600
10. Abraham Adesanya Polytechnic, Ogun State – N7,846,500
11. Ebonyi State University, Ebonyi State – N78,313,000
12. Emmanuel Alayande University of Education, Oyo State – N4,050,500
13. Federal Polytechnic Bali, Taraba State – N2,589,000
14. Federal University of Agriculture, Abeokuta, Ogun State – N133,995,450
15. Federal University of Health Science, Azare, Bauchi State – N14,170,000
16. Federal University Gusau, Zamfara State – N218,554,000
17. Federal University of Technology, Ikot-Abasi, Akwa Ibom State – N6,308,000
18. Lagos State University of Education, Lagos State – N14,378,000
19. Moshood Abiola Polytechnic, Ogun State – N3,485,000
20. Ogun State Institute of Technology, Ogun State – N5,907,998
Additional disbursements were also made to several more institutions, including:
21. Tai Solarin University of Education, Ogun State – N10,802,000
22. University of Ilesa, Osun State – N98,871,500
23. University of Port Harcourt, Rivers State – N66,906,030
24. Gombe State University, Gombe State – N3,621,000
25. Abia State University, Abia State – N12,469,500
26. Federal University of Technology, Babura, Jigawa State – N64,565,000
27. Nigerian Army University, Biu, Borno State – N45,138,500
28. Abubakar Tafawa Balewa University, Bauchi State – N256,912,600
29. Michael Okpara University of Agriculture, Umudike, Imo State – N71,016,220
30. Yusuf Maitama Sule University, Kano State – N4,297,178
31. Bauchi State University, Bauchi State – N12,628,500
32. Yaba College of Technology, Lagos State – N733,000
33. Hussaini Adamu Federal Polytechnic, Kazaure, Jigawa State – N621,256.80
34. Ignatius Ajuru University of Education, Rivers State – N107,245,000
35. Federal University of Technology, Akure, Ondo State – N34,428,000
36. Ladoke Akintola University, Oyo State – N8,670,000
37. Kogi State University, Kabba, Kogi State – N10,820,650
38. Niger State Polytechnic, Zungeru, Niger State – N4,535,000
39. Alex Ekwueme Federal University, Ndufu, Anambra State – N193,377,100
40. Federal University of Health Science, Otukpo, Benue State – N32,450,844
The total disbursement amounts to a whopping N2.146 billion, benefiting 18,998 students across the listed institutions.
NELFUND’s expanded outreach has been widely praised for empowering Nigerian students to pursue higher education and alleviating the financial burden that comes with it.
This initiative is seen as a critical step in ensuring that no deserving student is denied access to education due to financial constraints, further contributing to the nation’s intellectual and economic development.
Out of the 40 more institutions benefitting from the NELFUND student loan program, five are located in the South East. Initially, the region raised concerns about being excluded from this financial assistance initiative.
Members of the South East caucus in the National Assembly voiced their discontent regarding the lack of beneficiaries from South East tertiary institutions in the ongoing distribution of loans by the Nigerian Education Loan Fund.
These loans, designed to provide financial aid to students across Nigeria, have so far disbursed N2,946,927,155, supporting 27,667 students from 19 institutions. However, the caucus pointed out that no institutions from the South East were among the recipients.
Responding to the concerns, NELFUND clarified that the exclusion was not deliberate. The fund explained that it had sent verification requests to all tertiary institutions in the country, but those in the South East had not yet responded, and this verification is necessary for students to qualify for the loans.
The caucus urged institutions in the region to swiftly complete the verification process to ensure their students could benefit from the program. They highlighted the significance of the loans in easing financial barriers to education and encouraged students in the South East to take full advantage of the opportunity.
In an interview with The PUNCH, spokespersons for Enugu State University of Science and Technology and Chukwuemeka Odumegwu Ojukwu University denied claims of exclusion, stating their students had applied for the student loan and were awaiting disbursement from the Nigerian Education Loan Fund.
This clarification followed NELFUND’s statement where it refuted allegations of discrimination against South-East institutions, explaining that no tertiary institutions in the region had completed the required verification for their students to access the loan scheme.
