The Nigerian Education Loan Fund (NELFUND) has disbursed ₦392,876,550 in student loans to Delta State University, Abraka, benefiting 1,854 students.
In a statement posted on Sunday via its official X account, the fund said the disbursement is part of ongoing efforts to ease financial burdens on students and enable them to focus on their academic pursuits.
The university confirmed receipt of the funds in an acknowledgement letter dated January 20, 2026, signed by the Registrar, Rufina Ufiofio, on behalf of the Vice-Chancellor, Samuel Asagba. The institution commended NELFUND for its commitment to improving access to higher education and noted that the support would allow beneficiaries to concentrate more fully on their studies.
NELFUND, the federal agency implementing Nigeria’s student loan scheme, said the payment forms part of its broader drive to expand access to tertiary education financing nationwide.
The agency disclosed that since the launch of its student loan portal on May 24, 2024, it has recorded over 1.6 million applications, with 983,706 students already benefiting from the scheme. It added that new applications rose by 0.3 per cent compared to the previous day, translating to an additional 5,541 submissions.
As of February 1, 2026, NELFUND said it had disbursed a total of ₦183.9 billion, covering both institutional fees and student upkeep allowances. Of this amount, ₦107.1 billion was paid directly to 265 beneficiary institutions for tuition, while ₦76.8 billion was allocated for students’ monthly upkeep.
Under the scheme, loans are interest-free and cover tuition fees paid directly to institutions, alongside monthly stipends for students. Repayment is scheduled to begin two years after beneficiaries complete the National Youth Service Corps programme, with provisions for loan forgiveness in cases of death or permanent disability.
The agency also confirmed that applications for the 2025/2026 academic session remain open, with the deadline extended to February 27, 2026.
