The Chairman of the House of Representatives Committee on Polytechnic and Higher Technical Education, Mr. Gboyega Isiaka, has announced that the Nigerian Education Loan Fund (NELFUND) has disbursed a total of N84.2 billion to applicants as of September 2024. This amount includes N27.5 billion allocated for institutional loans and N56.7 billion for upkeep facilities.
Isiaka made this announcement during the 36th annual conference of the Federal Government College, Maiduguri Old Students Association, held in Abeokuta, Ogun State. He highlighted the significant progress made under President Bola Tinubu’s administration, stating that the initiative aims to bridge financial gaps and ensure that deserving students have access to quality higher education.
As of the end of September 2024, a total of 351,317 students have registered on the NELFUND portal, with 258,943 students applying for either institutional loans, upkeep loans, or both. Isiaka emphasized the importance of the Students Loan Access to Higher Education Act of 2024, describing it as a critical step toward empowering the next generation through education.
He stated, “Figures speak for themselves. NELFUND has made tremendous progress, paving the way for a brighter future for our nation’s students.” The initiative is seen as a crucial component in supporting students and enhancing educational access across Nigeria.