Key points
- The Nigerian Education Loan Fund has disbursed N188.1 million to three federal institutions for the 2025/2026 academic session.
- The funds cover 982 students across institutions in Rivers, Kaduna and Ondo states.
- Beneficiary institutions confirmed receiving the payments and commended the student loan scheme for expanding access to tertiary education.
Main Story
The Nigerian Education Loan Fund (NELFUND) has disbursed a combined N188.1 million to three federal institutions, providing financial support to 982 students for the 2025/2026 academic session.
The Fund announced the disbursements on Wednesday in separate statements published on its verified X account, with the three beneficiary institutions confirming receipt of the payments.
The institutions are the Federal University of Environment and Technology (FUET), Rivers State; the Nigerian Institute of Leather and Science Technology (NILEST), Zaria, Kaduna State; and the Federal College of Agriculture, Akure, Ondo State.
According to NELFUND, the Federal College of Agriculture, Akure, received N96.18 million for 446 students across five batches.
FUET received N85.12 million for 395 students in three batches, while NILEST received N6.85 million for 141 students across three tranches.
The disbursements bring the combined number of beneficiaries across the three institutions to 982.
The Issues
The rising cost of tertiary education and wider economic pressures continue to pose challenges to students and families across Nigeria.
For many students, tuition and institutional charges remain significant barriers to completing higher education, increasing concerns over school dropouts and access to learning.
The effectiveness of the Federal Government’s student loan programme will, however, depend on timely disbursements, accurate beneficiary verification and transparent management of funds by participating institutions.
What’s Being Said
FUET Vice-Chancellor, Professor Prince Ch. Mmom, confirmed that the university received three disbursement batches totalling N85.12 million.
The payments comprised N25.92 million for 118 students in the first batch, N30.40 million for 142 students in the second and N28.80 million for 135 students in the third.
“We deeply appreciate the commitment of NELFUND towards enhancing access to higher education and supporting Nigerian students through this laudable initiative,” Mmom said.
He added that the intervention had significantly supported students and strengthened their academic pursuits.
NILEST Director-General and Chief Executive Officer, Dr Auwal Mustapha Imam, also confirmed receipt of N6.85 million across the fifth, sixth and seventh tranches disbursed between March and April 2026.
“We sincerely appreciate and commend your exceptional contribution and outstanding performance demonstrated by granting this loan to our teeming community, especially in this trying time of economic challenges,” Imam said.
He disclosed that beneficiaries were issued receipts to promote accountability, transparency and proper documentation, adding that the funds were paid directly into the institute’s Central Bank of Nigeria Treasury Single Account.
Similarly, the Acting Provost of the Federal College of Agriculture, Akure, Dr Rasheed Folorunso, confirmed receipt of five verified batches covering 446 students.
“We write to express our sincere gratitude for the beautiful work you are doing at NELFUND. Please keep up the good job,” Folorunso said.
What’s Next
NELFUND is expected to continue disbursing student loan funds to eligible tertiary institutions as more applications and beneficiary records are verified.
Institutions will also be expected to maintain proper documentation and ensure that payments are accurately applied to the accounts of approved student beneficiaries.
The Fund’s continued rollout will be closely watched as the Federal Government seeks to expand access to interest-free education financing across Nigeria.
Bottom Line
NELFUND’s N188.1 million disbursement to three federal institutions extends financial support to 982 students amid rising education costs. The payments underscore the growing role of the student loan scheme in reducing financial barriers to tertiary education, while transparency and timely disbursement remain critical to its long-term impact.
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