The House of Representatives has reiterated its steadfast commitment to overseeing the success of the Nigerian Education Loan Fund (NELFUND). This initiative aims to provide financial support to students, recently beginning the distribution of N20,000 monthly stipends for July to 20,371 students across six tertiary institutions.
In a statement, House of Representatives Spokesman Rep. Akin Rotimi, Jr said under the direction of Managing Director Mr. Akintunde Sawyerr, NELFUND has demonstrated significant progress in its mission to alleviate financial barriers in higher education. Rep. Gboyega Isiaka (APC, Ogun), Chairman of the House Committee on Student Loan, Scholarship, and Higher Education Financing, emphasized the program’s importance in easing financial burdens on students, enabling them to concentrate on their studies.
To date, NELFUND has disbursed over N2.5 billion in student loans, aiding 22,120 students across twelve institutions. Approximately N2 billion has been allocated to cover institutional fees for over 20,000 students at six institutions. The scheme is poised to expand, with plans to include students from approximately 55 more tertiary institutions in the coming weeks.
In response to recent protests over economic challenges, the House of Representatives is focused on ensuring NELFUND effectively supports students during these difficult times. This includes expanding the program to 16 additional state-owned institutions, bringing the total to 86 participating schools.
Students are encouraged to apply for the benefits available through the NELFUND portal at nelf.gov.ng. Institutions that have not yet submitted complete student data are urged to do so to ensure their students can access the program.
The initiative follows the enactment of the National Students Loan Amendment Bill, signed into law by President Bola Tinubu on April 3, 2024. The House had previously passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. Since the launch of the NELFUND portal on May 24, 2024, over 160,000 students have registered, with more than 110,000 applications processed.
The House of Representatives, in line with its Legislative Agenda on Social Sector Reform and Development, remains committed to ensuring access to quality education and the improvement of learning institution infrastructure.
