President Bola Tinubu has approved a ₦500 billion expansion of the Nigerian Education Loan Fund (NELFUND), with online applications opening on Monday for federal university and polytechnic students across the country.
The fund — which is interest-free and repayable two years after graduation — will cover tuition, accommodation and a monthly stipend of ₦20,000 for verified applicants from low-income households.
Who Qualifies?
- Nigerian citizens enrolled in a federal tertiary institution.
- Family income below ₦500,000 per annum.
- Confirmed admission via JAMB or transfer letter.
- Bank Verification Number (BVN) and NIN matching.
Applications open at nelfund.gov.ng on Monday at 9am. The Ministry of Education says first disbursements will reach beneficiary institutions before the end of February.
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This is right step in the right direction