While the Northwest boasts of the highest number of individual student beneficiaries nationwide, the Southwest, which has the third-highest number of student beneficiaries, recorded the highest total volume of funds disbursed by the agency over its 27 months of operation.
According to the latest statistics released by NELFUND, a total of N355,872,779,439.25 has been disbursed so far. This comprises N192,888,267,439.25 allocated for tuition fees and N162,984,512,000 for students’ monthly upkeep.
The scheme currently covers 1,819,011 students across 319 public tertiary institutions, ranging from colleges of education to universities.
The data across the six zones as of 3 September 2026 showed the highest numbers in the Northwest (450,000), followed by the Northeast (378,103), Southwest (360,000), North Central (324,908), South South (198,000), and Southeast (108,000).
Speaking exclusively to the Nigerian Tribune, the Managing Director of NELFUND, Mr Akintunde Sawyerr, disclosed that the number of beneficiaries and participating institutions continues to grow daily.
He attributed this steady expansion to vigorous nationwide sensitisation campaigns and the pressing financial needs of indigent students.
He noted that the current government, especially President Bola Tinubu, is totally committed to ensuring no Nigerian is again dropped out of school because of lack of money.
Explaining why the Southeast lags in applications, Sawyerr pointed to regional cultural attitudes toward debt and education.
‘People of the Southeast generally prefer not to borrow money for education; that is simply the culture,’ Sawyerr stated. ‘The Ibos traditionally do not believe they should take loans to pay for their children’s school fees. Closely linked to this is the region’s strong entrepreneurial drive. Many believe they can succeed through business and the apprenticeship route, choosing to borrow capital for trade rather than for formal studies. That is the reality on the ground.’
When asked why the Southwest received the highest monetary volume despite not having the highest number of individual beneficiaries, Sawyerr cited varying institutional costs.
‘Schools in the Southwest charge higher fees. For instance, institutions in Lagos charge significantly more than those in northern states like Katsina,’ he explained. ‘Furthermore, courses in specialised fields like medicine and the sciences attract higher fees than arts and humanities. Institutions also price their tuition based on operational costs, such as expensive city land, electricity, rent, and overheads.’
He maintained that the agency would continue to improve in its operations.
The rapid growth of the loan scheme has elicited mixed reactions from education stakeholders, including parents, students, and educators.
While many applauded its impact on access to higher education, others blamed the massive demand on Nigeria’s challenging economic climate.
Several student beneficiaries told the Nigerian Tribune that the fund has saved them from severe hardship.
‘Without these loans, staying in school would have been an extreme struggle. It has brought immense relief to our families,’ one student shared.
Supporting the initiative, the President of the National Association of Nigerian Students (NANS), Akinteye Babatunde, described the scheme as a vital lifeline preventing indigent students from dropping out. Dismissing critics of the loan’s structure, Babatunde reportedly argued that they fail to understand the deep financial struggles of poor families.
He urged other eligible students to take advantage of the interest-free facility.
Parents, however, remain divided. While some express concern over the future repayment burden on their children, others view it as a timely intervention.
The National President of the National Parent Teacher Association of Nigeria (NPTAN), Alhaji Haruna Danjuma, also described the scheme as a highly positive initiative for low-income families, though he cautioned against systemic lapses.
‘It is not every student who has the privilege of rich parents,’ Danjuma noted. ‘Poor students can now access quality education if this scheme is managed transparently.’
However, addressing the overwhelming rush of applicants, Danjuma linked the demand directly to national economic pressures.
‘The massive rush for these loans indicates the harsh state of the economy. Countless parents nationwide are struggling with tuition due to high inflation, job losses and underemployment, making these loans an absolute necessity rather than an alternative,’ Danjuma concluded.