The Federal Government has disbursed N125 billion to support 1.29 million Nigerian students through the Nigerian Education Loan Fund, NELFUND, Vice President Kashim Shettima has disclosed.
Shettima disclosed the figure during an interactive session with Nigerians living in the United States at the Nigeria House in New York. He said the funding was part of the government’s efforts to reduce financial barriers to higher education. According to him, the administration is using NELFUND to support students while pursuing wider reforms in education, health, science and technology, and agriculture.
The Vice President said the government would continue to rely on the skills and knowledge of Nigerians in the diaspora to support national development. He described the diaspora community as “the greatest resource of the future” and called for greater contributions from Nigerians living abroad. Shettima also highlighted what he described as progress recorded under the current administration, pointing to changes in the country’s foreign reserves, economic growth and foreign exchange market.
“When President Tinubu assumed office, he did not resort to trading blames and accusing his predecessor for the state of affairs of our nation. Rather, he took decisions that only a leader of courage and conviction would take.”
He said the country’s foreign reserves had increased from $3.9 billion to more than $55 billion, while the economy recorded 4.45 percent growth in the most recent quarter cited by him. The Vice President said the changes in foreign exchange and reserves would help improve the safety of remittances sent by Nigerians abroad and support investment in the country.
“We are working day and night to reposition the Nigerian nation as investment confidence is returning to Nigeria, and the Dangote Refinery success story is a true manifestation in recent times.”
NELFUND was established to provide financial support to students in tertiary institutions and help reduce the cost burden associated with higher education. The scheme covers tuition and other approved educational expenses, while eligible beneficiaries can also receive upkeep support. Recent government figures indicate that NELFUND’s disbursements have continued to grow. In August, the Federal Government said more than N303 billion had been disbursed to beneficiaries across public tertiary institutions over two years.
The figures cited by Shettima in New York therefore represent an earlier stage of the programme’s disbursement as the government continues to expand its student loan scheme. The Vice President also spoke about Nigeria’s security challenges, saying the government was using available resources to address emerging threats. He urged Nigerians to work towards a united country, stressing the importance of cooperation in achieving national development.
“whatever binds us together supercedes whatever divides us as a people”.
Shettima’s comments come as the Federal Government continues to position NELFUND as a key part of its education policy, with the scheme intended to make tertiary education more accessible to students who may struggle to meet the cost of schooling. The expansion of the student loan programme has also made NELFUND an increasingly important channel for government support to Nigerian students, particularly those facing financial constraints.
