Loan & Grant

NELFUND Disburses ₦104 Billion in Student Loans Nationwide

NELFUND Disburses ₦104 Billion in Student Loans Nationwide

In a major boost for tertiary education in Nigeria, President Bola Ahmed Tinubu has announced that the Nigerian Education Loan Fund (NELFUND) has disbursed over ₦104 billion in student loans to more than 600,000 students nationwide.

The president made this known during the 42nd Founders’ Day and 33rd Convocation Ceremony of the Federal University of Technology, Minna (FUT Minna), held at the university’s Gidan Kwano campus. Representing the president, the Minister of Education, Dr. Morufu Olatunji Alausa, emphasized that the Federal Government remains committed to ensuring financial constraints do not hinder access to quality education.

Massive Funding for Education in the 2025 Budget

Tinubu reassured Nigerians that his administration is prioritizing education, highlighting that the 2025 budget allocates ₦940.5 billion to the Tertiary Education Trust Fund (TETFund). This investment aims to improve educational infrastructure, enhance manpower, and foster stability in higher institutions.

The president also addressed long-standing issues in the education sector, including:

  • Renegotiating the 2009 agreement with university staff unions
  • Resolving salary disputes to ensure industrial harmony
  • Strengthening research collaborations between universities and industries

He encouraged graduates to embrace opportunities with resilience and integrity, emphasizing that Nigeria’s future depends on their skills, innovation, and global competitiveness.

Current Student Loan Disbursement Figures

DetailsFigures
Total Loan Disbursed₦104 billion
Total Beneficiaries600,000+ students
2025 Education Budget (TETFund)₦940.5 billion

FUT Minna’s Role in Technological Advancement

During the event, FUT Minna’s Vice Chancellor, Prof. Faruk Adamu Kuta, reaffirmed the university’s commitment to scientific and technological excellence. He noted that the institution recently ranked:

  • 8th Best University in Nigeria
  • 2nd Best Specialized University in Nigeria

He also praised Niger State Governor Muhammad Umaru Bago for his continuous support, particularly in funding student accommodations.

To further boost education and research, Senator Muhammad Sani Musa donated ₦200 million, while Governor Bago contributed ₦100 million to an endowment fund supporting the university.

Honors and Doctorate Awards

As part of the convocation ceremony, the university conferred honorary doctorate degrees on:

  • Governor Muhammad Umaru Bago (Doctorate in Agriculture)
  • Governor Uba Sani of Kaduna State (Doctorate in Entrepreneurship)
  • Senator Muhammad Sani Musa (Doctorate in Technology)

The event also saw the graduation of 5,816 students, including:

  • 4,955 undergraduate students
  • 632 master’s degree holders
  • 105 postgraduate diploma recipients
  • 124 PhD graduates

NELFUND Disburses ₦20bn in Student Loans – A New Era for Higher Education in Nigeria

A Call for Industry Collaboration

Tinubu urged Nigerian universities to strengthen ties with industries, ensuring that research aligns with national development needs. He emphasized that the government is committed to creating an environment for graduates to thrive and contribute to Nigeria’s economic and security growth.

“With knowledge, skills, and innovation, our graduates must shape the future. Aspire for greatness, uphold integrity, and work towards a united and prosperous Nigeria,” he stated.

As education remains a key driver of national progress, the NELFUND student loan initiative is expected to ease financial burdens, allowing more students to complete their studies and contribute to Nigeria’s future.

Final Thoughts

The Federal Government’s disbursement of ₦104 billion in student loans is a bold step towards making higher education accessible to all Nigerians. With increased funding for education, university stability and research development will continue to improve.

Would you like to stay updated on more education and government policies? Follow us for the latest news on student loans, university funding, and national development.

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