The Nigerian Education Loan Fund (NELFUND) has clarified that the disbursement of student loans is not determined by geopolitical zones.
This clarification follows the release of N2.94 billion to 19 universities, benefiting 27,667 students. Notably, the list of beneficiaries excluded institutions from the South-East and South-South regions, sparking criticism from the public.
One X user, @Donaldsplendo, voiced the concern: “Not surprised to see SE being neglected once again. No funds were allocated to students in UNIZIK, FUTO, MOUAU, and even the University of Nigeria (UNN). I’m pretty sure a lot of students in those schools applied for the loan just like every other Nigerian scholar. One Nigeria una.”
Similarly, another user, @Tonia_dimma, commented, “South-South how market, one Nigeria but no allocation for South-South. We South-East are prepared already but how market South-South.”
In response to these concerns, NELFUND issued a statement via its verified X handle, explaining that the exclusion was not deliberate.
The agency stated, “It’s important to clarify that geopolitical zones are not a factor in the disbursement process. NELFUND sent a verification list to every institution eligible for disbursement. Payments are being made to institutions that have responded to this verification. Unfortunately, we have not yet received any response from the institutions in the South-East. We urge these institutions to complete the verification process so that their students can benefit from the scheme.”
Additionally, NELFUND acknowledged the receipt of N50 billion from recovered proceeds of crime, transferred by the Economic and Financial Crimes Commission (EFCC), in line with a directive from President Bola Tinubu. This boost is aimed at further supporting the student loan program and enhancing educational access across the country.
The Head of Corporate Communications at NELFUND, Oseyemi Oluwatuyi, expressed gratitude to President Tinubu, noting that “this significant injection of funds represents a major milestone in the Administration’s commitment to bolstering access to education by providing financial support to students across Nigeria.”
NELFUND also praised President Tinubu for his “unwavering dedication to the education sector” and highlighted that “by deciding to allocate these funds to the student loan scheme, President Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students and to the socioeconomic advancement of Nigeria.”
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