(DDM) – The Nigerian government has disbursed more than ₦150 billion through the National Education Loan Fund (NELFUND) to support 788,000 students across the country.
The announcement was made by government officials, highlighting the initiative as part of ongoing efforts to improve access to higher education in Nigeria.
The disbursements, which are interest-free, are intended to assist students in covering tuition fees, accommodation, and other study-related expenses.
Eligible beneficiaries can apply for loans under the program and benefit from flexible repayment terms following graduation.
The program was designed to ensure that financial barriers do not prevent youths from pursuing higher education, particularly those from underprivileged backgrounds.
Officials emphasized that the initiative forms a key component of the federal government’s broader strategy for youth empowerment and human capital development.
By providing these loans, the government aims to nurture the next generation of professionals and leaders, while promoting equitable access to education nationwide.
NELFUND has already facilitated thousands of students in continuing their studies without interruption, with plans to expand the program in coming years to reach even more young Nigerians.
The initiative has been lauded by education experts as a significant step toward addressing the challenges of affordability in higher education.
Beneficiaries have praised the program for easing the financial burden associated with university education.
Many students have highlighted how the loan allows them to focus on academics and skill acquisition without the constant worry of tuition fees or living costs.
The federal government also noted that continuous monitoring and evaluation of NELFUND disbursements will ensure transparency, efficiency, and proper allocation of resources.
This oversight aims to guarantee that the funds reach the intended recipients and are used effectively to improve educational outcomes.
The NELFUND initiative reflects Nigeria’s commitment to investing in its youth and underscores the importance of education as a catalyst for national development.
As the program continues, the government expects to empower more students, ultimately contributing to the country’s socioeconomic growth and global competitiveness in education.