By Ismail Azeez
The Nigerian Education Loan Fund (NELFUND) has disbursed more than N2.1 billion in institutional loans to 7,382 students of Osun State University (UNIOSUN) and Kashim Ibrahim University (KIU) for the 2025/2026 academic session, in a move aimed at easing financial barriers to higher education.
The agency said a total of N2,109,980,200 had been released across multiple batches of beneficiaries, describing the disbursement as a major step in its drive to widen access to tertiary education in Nigeria.
According to a statement issued on Wednesday, the bulk of the funds was allocated to UNIOSUN, which received N2,038,534,000 for 5,924 students across six batches. The institution accounts for more than 80 percent of the total disbursement.
For KIU, the agency said N71,446,200 was disbursed to 1,458 students in two batches. The fifth batch saw N47,638,900 released to 955 students, while the sixth batch received N23,807,300 for 503 students.
NELFUND described the development as a milestone in its ongoing rollout of the federal government’s student loan initiative, which is designed to support indigent students and reduce dropout rates linked to financial hardship.
“This milestone reflects our unwavering commitment to expanding access to higher education and ensuring that no eligible student is left behind due to financial constraints,” NELFUND said.
Nigeria has faced persistent challenges in funding higher education, with rising tuition and living costs placing increasing pressure on students and their families. Analysts say initiatives such as the NELFUND scheme could help bridge the financing gap, particularly for students in public universities.
The scheme forms part of broader reforms by the federal government to strengthen the education sector and improve human capital development in Africa’s most populous country. Authorities have repeatedly stressed that improving access to education is key to tackling unemployment, poverty and social inequality.
Education stakeholders, however, have called for transparency, effective monitoring and timely disbursement to ensure the sustainability of the programme. Concerns have also been raised about repayment mechanisms and long-term funding, as the scheme scales up to accommodate more institutions nationwide.
NELFUND said it would continue to expand its coverage, with additional disbursements expected in the coming months as more students and institutions are onboarded.