NELFUND Disburses ₦77 Billion Interest-Free Loans, Students Celebrate Across Campuses
NELFUND Disburses ₦77 Billion Interest-Free Loans, Students Celebrate Across Campuses
Jubilation in Sokoto, Gusau, Dutsin-Ma, UNIBEN, and beyond as undergraduates receive long-awaited fees and upkeep support under President Tinubu’s Renewed Hope Agenda.
Across campuses in Nigeria, students are dancing, cheering, and shedding tears of relief as the Nigerian Education Loan Fund (NELFUND) begins disbursing billions in interest-free student loans. From Sokoto State University to Ahmadu Bello University (ABU) and the University of Benin, young people who once feared dropping out over financial pressure are now breathing freely. One viral clip shows jubilant students chanting praises for NELFUND and President Bola Tinubu, visibly moved by the impact the initiative is having on their education.
According to NELFUND’s latest daily status update, more than 700,000 students have registered on the loan portal since its launch in May 2024, with nearly 400,000 already benefiting from disbursements. Funds have been paid both as institutional tuition fees and direct upkeep allowances, helping students across federal universities and colleges cover living and learning expenses.
One of the beneficiaries, Aminu Garba, a graduate of the Federal College of Education (Technical), Gusau, publicly expressed his gratitude, saying he successfully completed his degree with a Second Class Upper, all thanks to the financial support from the loan scheme. He also praised NELFUND’s Managing Director, Akintunde Sawyerr, for driving the project and gave heartfelt thanks to President Tinubu for what he described as a game-changing intervention for students like him.
NELFUND’s commitment to equity and access is also evident in its approach: students are able to apply for the loan without using data, a move that eliminates digital barriers for students in low-connectivity areas. The platform has continued to improve its reach and effectiveness, with the MD reiterating that disbursements will proceed in waves, ensuring no eligible student is left behind.
While many are celebrating, there are ongoing appeals from students who updated their account details months ago but have yet to receive their funds. Social media has seen passionate calls for the management to resolve these pending cases quickly, with some expressing frustration over the delay.
Despite the few glitches, the impact of the NELFUND loan is being felt across the country, especially in underserved communities. It is one of the clearest signs yet of the Renewed Hope Agenda in action—bridging educational inequality, promoting upward mobility, and restoring public trust in government-backed education reform.
