NELFUND Disburses ₦161.9m to 2,400 Students at Borno State University
The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦161,968,700.00 to 2,400 beneficiaries at Borno State University, as part of its ongoing efforts to ease financial burdens for students across the country.
The disbursement, which forms part of the first phase of institutional loan payments for the 2024/2025 academic session, highlights NELFUND’s commitment to providing affordable education financing and ensuring that students can pursue their academic goals without interruption.
The Vice chancellor , Prof Babagana Gutti while confirming receipt of the funds, expressed deep appreciation to NELFUND for the timely intervention. They noted that the loan facility would go a long way in reducing the financial pressure on students and their families, allowing beneficiaries to focus more on their studies and less on tuition and living expenses.
A senior university administrator commended the initiative, describing it as “a demonstration of the Federal Government’s resolve to make higher education accessible and inclusive.” He further noted that the support aligns with the vision of empowering young Nigerians with the knowledge and skills required to contribute meaningfully to national development.
The beneficiaries, drawn from various faculties within the university, also expressed gratitude, with many describing the intervention as life-changing. Several students shared that the loan had eased their immediate worries about paying school fees and provided a stronger sense of security for the continuation of their studies.
NELFUND has, in recent weeks, carried out disbursements to several universities across the country, reaffirming its mandate of supporting institutions and individuals through targeted funding. The Fund reiterated that its operations are designed not only to finance education but also to foster equity, reduce dropout rates, and build a workforce better prepared for Nigeria’s economic growth.
With the release of ₦161.9 million to Borno State University students, NELFUND continues to strengthen its role as a catalyst for educational development, while setting the pace for sustainable human capital growth nationwide
