Manny Ita
The Nigerian Education Loan Fund (NELFUND) has officially disbursed ₦1,326,550,000 to the University of Lagos (UNILAG), marking a significant milestone in the federal government’s initiative to expand access to tertiary education through interest-freei students who had previously paid their fees out-of-pocket may be eligible for refunds from the institution.
Beyond the direct coverage of tuition and mandatory fees, the 6,308 beneficiaries remain eligible for a monthly upkeep stipend of ₦20,000, which is paid directly into their personal bank accounts to assist with living expenses. This disbursement to UNILAG contributes to a broader national figures; as of early January 2026, NELFUND has received over 1.33 million applications since its May 2024 inception. Total disbursements across Nigeria have now exceeded ₦161.9 billion, supporting more than 864,000 students across 260 public tertiary institutions nationwide.
