Abuja, FCT - The Nigerian government recently launched the Nigerian Education Loan Fund (NELFUND) and allocated over 2.5 billion naira ($6.17 million) in student loans to over 22,000 students nationwide.
President Bola Tinubu inaugurated the fund in July at the State House, aiming to boost access to education for Nigerian students.
According to the latest data, the top 10 states with the highest number of students applying for NELFUND loans are:
Students loan: Kano state tops list
Kano state leads with 17,122 out of 20,814 registered students applying for the loan, representing 82.3% of registered students.
Data from NELFUND shows that students of Bayero University Kano, one of the universities in the northwestern state, are among the top beneficiaries, having received N853.7 million so far.
Borno state trails Kano
Borno state also has a high application rate, with 13,798 out of 16,353 registered students applying, constituting 84.4% of registered students.
Students of the University of Maiduguri in Borno state are among the top beneficiaries.
Student loan: Benue has 3rd highest applicants
In Benue state, 11,754 out of 16,127 registered students applied for the loan, reflecting a 72.9% demand for financial support.
The northcentral state has the third highest number of applicants so far.
Student loan application: Katsina comes 4th
Katsina state records 10,952 out of 13,538 registered students applying for the loan, amounting to 80.9% of registered students.
The northwestern state has the fourth-highest number of applicants so far.
Student loan application: Kaduna takes 5th spot
Kaduna state shows a substantial percentage of 74.8% of students relying on the NELFUND loan.
Out of the 13,873 students who registered, 10,380 have so far applied.
Student loan application: Plateau claims 6th spot
Plateau state has a strong representation in student loan applications, with 9,328 out of 11,624 registered students applying, constituting 80.3%.
Students of the University of Jos are among the top beneficiaries, having received N209.3 million so far.
Student loan: Oyo state claims 7th spot
Oyo state records 8,990 out of 14,086 registered students applying for the loan, showing a lower percentage of 63.8% compared to other states.
The students of the University of Ibadan are among the top beneficiaries. According to NELFUND, they have received over N201 million so far.
Student loan: Adamawa state claims 8th spot
Adamawa state shows a significant portion of students seeking financial aid, with 8,977 out of 11,219 registered students applying for the loan, representing 80.0%.
Students of Modibbo Adama University, Yola, are among the top beneficiaries, with over N83 million disbursed to them.
Student loan: Yobe state claims 9th spot
Yobe state has a high loan application rate.
According to NELFUND's data, 86.3% of the 10,398 registered students applied, representing 8,966 out of 10,398.
Student loan: Taraba state claims 10th spot
Taraba state shows significant engagement with the student loan programme.
About 8,668 out of 10,699 registered students applied, representing 81.0% of registered students.
| S/N | States | Applications |
| 1. | Kano | 17,122 applications |
| 2. | Borno | 13,798 applications |
| 3. | Benue | 11,754 applications |
| 4. | Katsina | 10,952 applications |
| 5. | Kaduna | 10,380 applications |
| 6. | Plateau | 9,328 applications |
| 7. | Oyo | 8,990 applications |
| 8. | Adamawa | 8,977 applications |
| 9. | Yobe | 8,966 applications |
| 10. | Taraba | 8,668 applications |
Student loan sparks controversy over alleged southeast exclusion
Meanwhile, the initial disbursement of the loan notably omitted institutions from the Southeast, sparking concerns about geopolitical bias.
However, NELFUND officials clarified that the exclusion resulted from the region's institutions failing to comply with necessary verification processes, citing administrative errors such as incomplete forms and missing JAMB results.
Southeast governors and lawmakers are working to address these issues, launching initiatives to raise awareness and ensure students in the region can access the loan scheme.
Student loan: Youth advocate reacts
Speaking on the development, Ogoegbunam Kingdom, the Platform for Youth and Women Development director, said President Tinubu deserves commendation for "promoting unity and inclusion."
He said the previous Buhari-led government "disunited Nigerians and promoted disharmony and nepotism."
Nevertheless, Mr Kingdom said the alleged exclusion of the southeast region from the student loan scheme must be probed.
"The alleged marginalization of the southeast region in the student loan scheme by the Tinubu administration must be investigated and addressed with immediate effect so as not to ruin the president’s efforts and gains in promoting a united and stable nation," he told Legit.ng.
NELFUND confirms receiving N50bn from EFCC
Meanwhile, NELFUND has confirmed the receipt of an additional ₦50 billion from the Economic and Financial Crimes Commission (EFCC).
In a statement issued on Friday, August 23, by NELFUND's Head of Corporate Communications, Oseyemi Oluwatuyi, the organization expressed satisfaction with the fund transfer and highlighted its potential to enhance the student loan programme significantly.
Oluwatuyi explained that the disbursement aligns with President Bola Tinubu's directive from his August 4, 2024 address, which instructed the EFCC to allocate funds to NELFUND to further strengthen educational financing for Nigerian students.
.. Source: Legit.ng
