NELFUND explains why South-East students are yet to benefit from loans  

The federal government agency in charge of student loans, the Nigerian Education Loan Fund (NELFUND), has explained why there are no students of any South-East higher institution among the beneficiaries of its loans disbursed so far.

According to the agency, no institution from the region has responded to its request for verification of students for the disbursement.

NELFUND stated this on X in response to criticism that the region was deliberately left out of the student loan scheme. This followed the release of a list of the 19 institutions that have benefitted from the loan.

The list published on Friday shows that NELFUND had so far disbursed a total of N2.9 billion loan to 27,667 students across 19 federal universities, polytechnics, and colleges of education but none from the South-East.

Reacting to complaints that the South-East students were not considered for the loans, the agency said:

“It’s important to clarify that geopolitical zones are not a factor in the disbursement process.  

“NELFUND sent a verification list to every institution eligible for disbursement. Payments are being made to institutions that have responded to this verification.  

“Unfortunately, we have not yet received any response from the institutions in the South-East. We urge these institutions to complete the verification process so that their students can benefit from the scheme.” 

Meanwhile, the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr has called on Nigerian students to take full advantage of the NELFUND Student Loan Scheme, describing it as a historic initiative aimed at making higher education accessible to all, regardless of financial background.

The MD made this appeal during a Student Loan Sensitization Program organized by the National Association of Nigerian Students (NANS) in Port Harcourt.

The revised Student Loan Act of 2024 was established to ensure that education becomes more accessible to all Nigerian students, irrespective of their financial circumstances.

Furthermore, the fund will benefit from profits derived from the government’s natural resource activities, the issuance of education bonds, and contributions from individuals and organizations.