EDUCATION LOAN: N’West Leads, S’East Trails As 516,137 Students Receive N99.5bn In 16 Months

The Nigerian Education Loan Fund (NELFund) has disbursed a full of N99.5 cardinal to students and institutions successful conscionable 16 months since the indebtedness strategy was launched connected 24 May 2024.

According to authoritative information obtained by LEADERSHIP Weekend from a Student Loan Disbursement Status Report dated 24 September 2025, a full of 510,378 students person truthful acold benefited from the indebtedness scheme.

The breakdown shows that N53.8 cardinal was paid straight to institutions arsenic tuition fees, portion N45.7 cardinal went to students arsenic upkeep allowance.

In total, 228 tertiary institutions crossed Nigeria are presently accessing the scheme.

The information stated: “A full of 228 institutions person benefited, with 829,423 applications received. So far, 510,378 students person accessed the indebtedness scheme.

“As of 10 September, N53,801,717,293.00 has been paid arsenic organization fees, portion N45,751,360,000.00 has been released arsenic upkeep allowance. This brings the full indebtedness disbursed to N99,553,077,293.00,” it stated.

Despite the nationwide success, the strategy has faced challenges successful achieving equitable organisation crossed Nigeria’s six geopolitical zones.

Figures sighted by LEADERSHIP dated May 2025 revealed wide gaps betwixt the North and different regions crossed the country.

The North West recorded the highest fig of applicants, with 157,831 students, followed by the North East (127,058) and the South West (92,850).

In contrast, lone 27,098 students from the South-East and 37,180 from the South-South applied, portion the North-Central had 74,120 applicants.

When contacted for an update connected the existent presumption of determination disparities, Mrs Oseyemi Oluwatuyi, Director of Strategic Communications astatine NELFund, declined to comment, saying: “Sorry, we cannot proviso specified information. It is sensitive.”

The figures person generated mixed reactions among acquisition stakeholders and determination leaders.

Speaking to 1 of our correspondents, Mr Isaac Oche, a statistician based successful Abuja, said the debased information from the South-East states, arsenic earlier reported by NELFUND, whitethorn beryllium owed to the reluctance of students who fearfulness being overburdened by indebtedness repayment.

“The numbers amusement that students from the South are not afloat taking vantage of this lifeline, though I cognize NELFUND has done a batch of sensitisation successful that region. I judge the existent presumption whitethorn person improved by now,” helium said.

“It could besides beryllium owed to mistrust of authorities schemes oregon mediocre consciousness astatine the grassroots. We request assertive sensitisation successful the region, and I commend the Fund for the efforts they are already making. But much inactive needs to beryllium done to erase doubts and physique trust.”

On their part, students hailed the programme arsenic 1 of the astir impactful policies of the contiguous administration, but they lamented that the authorities restricted the monthly upkeep allowance to holidays only.

Cletus Tse, a final-year pupil astatine Joseph Sarwuan Tarka University, Makurdi, explained however the strategy has improved his world journey.

“Without this loan, I would person dropped retired successful my 2nd year. The fiscal alleviation has helped maine absorption connected my studies without worrying excessively overmuch astir tuition and fees.”

Tse, however, expressed interest astir the disbursement process.

“The authorities should enactment connected making the upkeep allowance disbursement faster due to the fact that galore of america look delays. Sometimes the allowance comes erstwhile the semester is astir ending, and that defeats the purpose,” helium said.

Tse besides called for stronger occupation instauration policies to guarantee graduates are capable to repay.

“It is bully that the indebtedness is helping america enactment successful school, but repayment volition lone beryllium realistic if determination are jobs waiting for america aft graduation.

“Government indispensable lucifer this inaugural with employment opportunities truthful that it does not go different burden,” helium added.

South East Leaders Decry Low Student Loan Uptake In Region

Leaders of the apex Igbo socio-cultural organisation, the Ohanaeze N’digbo, and salient stakeholders successful the South East person expressed interest implicit the debased usage of the national government’s inaugural connected pupil loans and its under-utilisation successful the zone.

Against the backdrop of the interest expressed by the absorption of Nnamdi Azikiwe University (UNIZIK), Awka, Anambra State, astir students’ debased involvement successful applying for the national authorities students indebtedness strategy tagged Nigeria Education Loan Fund (NELFUND), contiguous past nationalist vice-president of the Ohanaeze Ndigbo, Chief Damian Okeke-Ogene, has described the improvement arsenic worrisome.

He told LEADERSHIP Weekend that students of the portion that had been crying retired implicit marginalisation should not spot specified accidental and disregard it.

“NELFUN...