NELFUND Disburses Over N2.5 Billion in Student Loans Nationwide, Southeast Excluded from Beneficiary List

In July, President Bola Tinubu launched the Nigerian Education Loan Fund (NELFUND) at the council chamber of the State House to provide financial aid to students across the country. Recently, the federal government disbursed over N2.5 billion in student loans to more than 22,000 students nationwide. However, institutions in the Southeast were notably absent from the list of beneficiaries, raising concerns about a possible deliberate exclusion of the region.

Account to News Nation Officials from NELFUND clarified that the exclusion was not due to any geopolitical bias but resulted from the region's institutions failing to complete necessary verification processes required for fund disbursement. The lack of compliance has been attributed to administrative errors, such as incomplete forms or missing Joint Admissions and Matriculation Board (JAMB) results, which prevented students from successfully applying for the loans.

In response, Southeast governors and lawmakers are working to address these issues by increasing awareness and ensuring that students in the region can fully benefit from the loan scheme.

Top 10 States with the Highest NELFUND Loan Applications

Based on recent data, the following are the top 10 Nigerian states with the highest number of students applying for NELFUND loans:

10. Taraba State

Taraba State, in the North-East region, is known for its rich cultural heritage and natural resources. With 8,668 students applying for the NELFUND loan out of 10,699 registered students, representing 81.0%, Taraba shows significant engagement with the student loan program, reflecting the financial need among its student population.

9. Yobe State

Yobe State, also in the North-East, is home to several institutions, including Yobe State University in Damaturu and Federal University, Gashua. The state has a high rate of loan applications, with 8,966 out of 10,398 registered students applying, which constitutes 86.3%.

8. Adamawa State

Adamawa State, located in the North-East region, has educational institutions such as Modibbo Adama University in Yola. Out of 11,219 registered students, 8,977 applied for the NELFUND loan, representing 80.0% of the registered students, indicating substantial demand for financial aid.

7. Oyo State

Oyo State, in the South-West region, is known for prominent educational institutions like the University of Ibadan and Ladoke Akintola University of Technology. Despite having 14,086 registered students, only 8,990 applied for the loan, showing a lower percentage of 63.8% compared to other states.

6. Plateau State

Plateau State, in the North-Central region, is home to the University of Jos. The state has a strong representation in the student loan applications, with 9,328 out of 11,624 registered students applying, constituting 80.3%, indicating a significant reliance on the loan program.

5. Kaduna State

Kaduna State, located in the North-West, is known for institutions like Ahmadu Bello University in Zaria. With 10,380 students applying out of 13,873 registered, Kaduna shows a substantial percentage of 74.8% of students relying on the NELFUND loan.

4. Katsina State

Katsina State, in the North-West, is home to Umaru Musa Yar’adua University. The state has a high application rate, with 10,952 out of 13,538 registered students applying for the loan, amounting to 80.9%, highlighting the financial need among its students.

3. Benue State

Benue State, in the North-Central region, known for its agricultural prowess and institutions like Benue State University, had 11,754 out of 16,127 registered students apply for the loan, reflecting a 72.9% demand for financial support.

2. Borno State

Borno State, located in the North-East, is recovering from years of insurgency. Educational institutions like the University of Maiduguri have been instrumental in this recovery. Borno has a high application rate, with 13,798 out of 16,353 registered students applying for the loan, showing an 84.4% reliance on external financial assistance.

1. Kano State

Kano State, in the North-West, leads in the number of registered students and loan applicants. The state is home to Bayero University, among others. With 17,122 out of 20,814 registered students applying, Kano has the highest engagement with the NELFUND loan program, with 82.3% of students applying, highlighting the financial challenges faced by students in pursuing higher education.

As efforts continue to rectify the exclusion of Southeast institutions, the NELFUND initiative remains a crucial support mechanism for students nationwide.