FULL LIST: NELFUND disburses N2.1bn student loans to 40 more institutions

The Nigeria Education Loan Fund (NELFund) says it has disbursed student loans to 40 additional institutions.

In a recent statement via X, the fund said the additional disbursement has brought the total number of benefiting institutions to 59.

NELFund said the expansion marked a significant milestone in its commitment to providing access to quality education for all Nigerian students, regardless of their financial circumstances.

“NELFUND is pleased to announce that it has successfully disbursed Student Loans to 40 additional institutions, bringing the total disbursements to institutions to 59,” it wrote.

“This expansion marks a significant milestone in NELFUND’s ongoing commitment to providing access to quality education for all Nigerian students, regardless of their financial circumstances.”

The new disbursement is over N2.1 billion, benefiting 18,998 students nationwide.

See the full list below:

• Federal Polytechnic Nekede, Imo State – N368,400.00
• Michael Okpara University of Agriculture, Umudike, Imo State – N71,016,220.00
• Delta State University, Abraka, Delta State – N45,973,600.00
• Ebonyi State University, Ebonyi State – N78,313,000.00
• Alex Ekwueme Federal University, Ndufu, Anambra State – N193,377,100.00

• Federal University of Health Science Ila Orangun, Osun State – N7,448,000.00
• Federal University Wukari, Taraba State – N97,398,000.00
• Olabisi Onabanjo University, Ogun State – N7,265,000.00
• University of Ibadan, Oyo State – N9,797,450.00
• Osun State University, Osun State – N218,954,500.00
• Usmanu Danfodio University, Sokoto State – N226,931,440.00
• Zamfara State University, Zamfara State – N2,340,800.00
• Emmanuel Alayande University of Education, Oyo State – N4,050,500.00
• Federal Polytechnic Bali, Taraba State – N2,589,000.00
• Federal University of Agriculture Abeokuta, Ogun State – N133,995,450.00
• Federal University of Health Science Azare, Bauchi State – N14,170,000.00
• Federal University Gusau, Zamfara State – N218,554,000.00
• Federal University of Technology Ikot-Abasi, Akwa Ibom State – N6,308,000.00
• Lagos State University of Education, Lagos State – N14,378,000.00
• Moshood Abiola Polytechnic, Ogun State – N3,485,000.00
• Ogun State Institute of Technology, Ogun State – N5,907,998.00
• Tai Solarin University of Education, Ogun State – N10,802,000.00
• University of Ilesa, Osun State – N98,871,500.00
• University of Port Harcourt, Rivers State – N66,906,030.00
• Gombe State University, Gombe – N3,621,000.00
• Federal University of Technology Babura, Jigawa State – N64,565,000.00
• Nigerian Army University, Biu, Borno State – N45,138,500.00
• Abubakar Tafawa Balewa University Bauchi State – N256,912,600.00
• Yusuf Maitama Sule University, Kano State – N4,297,178.00
• Bauchi State University, Bauchi – N12,628,500.00
• Yaba College of Technology, Lagos State – N733,000.00
• Hussaini Adamu Federal Polytechnic Kazaure, Jigawa State – N621,256.80
• Ignatius Ajuru University of Education Rivers State – N107,245,000.00
• Federal University of Technology Akure, Ondo State – N34,428,000.00
• Ladoke Akintola University, Oyo State – N8,670,000.00
• Kogi State University, Kabba, Kogi State – N10,820,650.00
• Niger State Polytechnic, Zungeru, Niger State – N4,535,000.00
• Federal University of Health Science Otukpo, Benue State – N32,450,844.00
• Abia State University Abia State — N12,469,500.00
• Abraham Adesanya Polytechnic, Ogun State —N7,846,500.00

President Bola Tinubu enacted an initial version of the student loan policy in June 2023 to grant interest-free loans to students.

The scheme was to commence in October 2023 but implementation was repeatedly deferred until a re-enactment in April 2024.

The loan scheme funds students for both their tuition and upkeep allowance.

The loans are to be disbursed directly to the institutions while the stipends are paid directly to the students.

NELFund said the repayment process for the loans begins two years after a recipient completes youth service.

The fund said 10 percent of an applicant’s earnings would be deducted until the loan is fully paid.