The Nigerian Education Loan Fund (NELFUND) has disbursed N116.184 billion through the Nigerian Student Loan Scheme, benefiting 680,658 students across 176,252 institutions. Akintunde Sawyer, Managing Director of NELFUND, disclosed this during a budget defense session with the National Assembly Joint Committee on Tertiary Institutions and TETFUND.

Out of the total funds disbursed, N37 billion went toward institutional loans covering tuition and fees, while N78 billion supported students’ living expenses. Sawyer highlighted the scheme’s positive impact, stating that it has eased financial burdens, improved academic outcomes, and stabilized academic calendars nationwide.

For 2025, NELFUND’s budget has been capped at N58.4 billion, with allocations of N12.2 billion for personnel costs, N24.7 billion for overheads, and N21.4 billion for capital expenditure. The Joint Committee approved the budget, urging transparency in its implementation.

In a separate development, the Federal Government has earmarked N4 billion for Conditional Cash Transfers (CCT) to assist vulnerable households and N2 billion for interest-free loans to rural farmers. These measures are part of President Bola Tinubu’s Renewed Hope Agenda.

Speaking at the launch of the 2025 Nigeria Humanitarian Needs and Response Plan (HNRP) in Abuja, Minister of Humanitarian Affairs and Poverty Reduction, Prof. Nentawe Yilwada, announced plans to assist 10 million displaced households, focusing on women, widows, pregnant women, and individuals with disabilities.

The CCT programme, scheduled to run from February to April, will prioritize displaced families in the North East, aiming to provide critical support to Nigeria’s most vulnerable populations.