NELFUND Graphics Content 

By Tanko Lami

The Nigerian Education Loan Fund (NELF) has approved 22 additional state-owned tertiary institutions for student loans, bringing the total number of approved institutions to 108.

According to a statement posted on X by @NELFUND, students from these 22 institutions can now apply for loans on the NELF portal ((link unavailable)).

This development follows a review by the Student Verification System committee, which previously cleared 86 state-owned institutions.

With this approval, a total of 108 state-owned tertiary institutions are now eligible for student loans.

President Bola Tinubu’s flagship initiative in the education sector is the implementation of the student loan scheme.

Just a month after his inauguration, Tinubu signed the Access to Higher Education Act, establishing a legal framework for providing loans to indigent and low-income Nigerians to help them cover tuition fees at Nigerian tertiary institutions.

The law, reenacted earlier this year, established the Nigerian Education Loan Fund (NELFUND).

NELFUND is tasked with managing all loan applications, grants, disbursements, and recoveries.

As outlined in the act, the fund will receive financing from multiple sources and will also participate in other productive ventures.

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