The Nigerian Education Loan Fund (NELFUND) has disbursed ₦8,202,950 to 199 students of the Division of Agricultural Colleges, Ahmadu Bello University (ABU), Zaria.
Announcing the development on Friday, NELFUND said the intervention reflects its commitment to supporting higher education and empowering Nigerian students through accessible funding.
The Fund, established under the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024, was signed into law by President Bola Tinubu on April 3, 2024. The Act replaced the 2023 legislation, which had faced challenges in governance, loan eligibility, repayment structures, and recovery mechanisms.
According to NELFUND, the scheme’s primary mandate is to provide financial assistance to eligible Nigerians for tuition, upkeep, and related academic costs in accredited tertiary institutions, as well as vocational and skills acquisition centres across the country.
The Fund also introduced a flexible repayment framework tailored to graduates’ income levels, including grace periods and loan consolidation options. This, it explained, is aimed at reducing the financial burden on beneficiaries while improving repayment compliance.
Officials stressed that the disbursement at ABU Zaria is one of many ongoing interventions nationwide, adding that NELFUND remains committed to ensuring that no qualified student is denied access to education due to financial constraints.
