NELFUND Reached 1.388m Students and Disbursed N242.4bn, LASUED VC Says

# What the numbers say

NELFUND's breakdown through early April 2026 lists N157.46 billion paid as institutional fees to 288 beneficiary institutions and N84.95 billion disbursed as upkeep allowances to students.

# What the loan covers and how repayment works

NELFUND was established under the Student Loan (Access to Higher Education) Act, 2024. The scheme provides interest-free loans that cover tuition fees and monthly upkeep allowances. Repayment begins two years after a beneficiary completes the National Youth Service Corps (NYSC) programme.

# How university leaders describe impact

Prof. Bidemi Lafiaji-Okunneye, Vice Chancellor of Lagos State University of Education (LASUED), described the programme as a financial relief that eases pressures on students and parents. She said the fund has helped recipients focus on study and research instead of taking on menial work to pay fees, and that it has reduced social inequality that can distract students and hurt academic performance.

Lafiaji-Okunneye called the scheme socially redeeming and said beneficiaries show increased patriotism and a stronger sense of belonging among parents.

# Links with technical education and ICT

The vice chancellor praised recent government investment in information and communication technology (ICT) and technical education. She said students are leveraging workshops and labs to develop commercially viable products and innovations. Examples she cited include metal waste bins, electronic voting systems, and a "banking made easy" software.

# Context and public discussion

The figures cited in LASUED's statement align with NELFUND's own reporting for the period to April 2026. The programme opened its loan portal and has been actively disbursing funds to institutions and students since its 2024 enabling law. Other coverage referenced in the same news cycle raises questions about total disbursements tracked elsewhere and the need to protect loan recovery and long-term sustainability.

# What this matters for students and universities

For students: the loan removes an immediate cash barrier to enrollment and supports basic upkeep, allowing more focus on academics. For universities: institutional fee disbursements reduce pressure on school accounts for student billing and may stabilize enrolment and fee collection.

# What to watch next

Monitor NELFUND's future updates for (1) cumulative disbursement changes, (2) the number of beneficiary institutions and students by cohort, and (3) policy steps or administrative changes addressing loan recovery and sustainability.