The Nigerian Education Loan Fund (NELFUND) recently gave out more than N72 million in loans to 1,607 students in three higher education institutions in Nigeria. The institutions that received the money are the Federal College of Education, Obudu; Abdulkadir Kure University, Minna; and Adamawa State University, Mubi.
They confirmed this good news in a message on their official social media page, X. They promised to keep helping students in Nigeria who need financial support to continue their education.
The organization explained how the money was shared:
- Federal College of Education, Obudu got funds in two parts:
- First part: N14,320,500 given to 215 students
- Second part: N7,469,000 given to 107 students
- Abdulkadir Kure University, Minna:
- N2,900,000 given to 9 students
- Adamawa State University, Mubi:
- N47,621,121 given to 1,283 students
Institutions thank NELFUND for support
The schools that received the money thanked the fund for this great help. The Federal College of Education, Obudu, called it a big step in helping their students. In a letter signed by Provost Dr. Richard Utubaku and Bursar Joseph Ogar, they praised the clear and fair way the money was given out.
The letter stated, “This clearly shows President Tinubu’s serious efforts to make education better in Nigeria. We thank NELFUND for doing a good job in helping our students.”
Abdulkadir Kure University, Minna, also thanked them, saying the money greatly reduced financial stress for their students. This message was signed by the Registrar, Dr. Garba Abdullahi.
At Adamawa State University, Mubi, acting Vice-Chancellor Dr. Ibrahim Bwatanglang expressed happiness and asked for more cooperation in the future. The university also requested the approved list of students for the next round of loans.
Important information about the fund
Earlier this year, the fund gave out N20,074,050,000 to help 192,906 students pay their fees at many tertiary schools across Nigeria as of February 3, 2025.
The Student Loan Scheme also reported that about 169,114 students benefited from monthly stipends totaling N12,818,960,000. Each student received N20,000 every month.
In January 2025, it announced it had shared N20.08 billion among 192,906 students attending 133 different higher institutions in Nigeria.
The Nigerian government has set aside N175.13 million for the fund in the national budget of N49.74 trillion for 2025. This money will help the organization run smoothly under the Student Loan Act of 2024.
The fund also shared that more male students apply for these zero-interest government loans than females, with a ratio of four males to every one female. They encourage more female students to apply for the loans to close this gap.