NELFUND disburses N303bn student loans to 850,000 beneficiaries in two years

The Nigerian Education Loan Fund (NELFUND) has provided more than N303 billion in student loans to approximately 850,000 Nigerian students within its two years of operation. This significant disbursement represents a key federal government effort to broaden access to higher education across the country.

NELFUND's Managing Director and Chief Executive Officer, Mr. Akintunde Sawyerr, announced the figures, highlighting the fund's role in supporting students pursuing tertiary education. The program is designed to alleviate financial barriers that often prevent eligible students from accessing university and other post-secondary institutions.

This initiative underscores the government's commitment to investing in human capital development. By providing financial assistance, NELFUND aims to empower a larger number of Nigerian youth to obtain the qualifications necessary for professional careers, thereby contributing to the nation's economic growth and development.

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The Nigerian Education Loan Fund (NELFUND) has disbursed more than N303 billion to about 850,000 Nigerian students within two years of operation, marking one of the Federal Government’s major interventions in expanding access to tertiary education.