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Tag: NELFUND

  • NELFUND Clarifies Delay in Student Loan Disbursement to South-East Institutions

    NELFUND Clarifies Delay in Student Loan Disbursement to South-East Institutions

    The Nigerian Education Loan Fund (NELFUND) has addressed the concerns surrounding the apparent exclusion of South-East institutions from the recent student loan disbursements.

    NELFUND clarified that the delay is due to these institutions’ failure to complete the necessary verification process required for funds to be released.

    In a statement issued via their official X (formerly Twitter) account, NELFUND emphasized that geopolitical considerations do not influence the disbursement process.

    “Geopolitical zones are not a factor in the disbursement process. NELFUND sent a verification list to every institution eligible for disbursement,” it noted.

    NELFUND further explained that payments are being made to institutions that have responded to this verification.

    However, “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,” the statement added.

    This clarification comes in response to a social media user’s frustration over the perceived neglect of South-East universities, such as UNIZIK, FUTO, MOUAU, and the University of Nigeria (UNN), in the loan allocation.

    The user, identified as Santiago Leo, stated, “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 student.”

    As of now, NELFUND has disbursed approximately N2.9 billion to 27,667 students across 19 institutions that completed the verification process.

  • Kano Leads, FCT Trails: Breakdown of Student Loan Registrations Across Nigeria

    Kano Leads, FCT Trails: Breakdown of Student Loan Registrations Across Nigeria

    The Nigerian Education Loan Fund has released detailed statistics regarding student loan registrations by state of origin.

    This data provides insights into the number of students who have registered for loans across various states and those who applied after registering.

    This information is crucial for understanding the geographical distribution of student loan applicants in Nigeria.

    Key Highlights

    • Kano State has the highest number of registered students, with 20,814 registrations, out of which 17,122 students proceeded to apply after registration.
    • Borno State follows closely with 16,353 registered students and 13,798 applications.
    • The state with the least number of registered students is FCT-Abuja, with 894 registrations, and 676 of those students applied after registering.

    Table: Student Loan Registration by State of Origin

    State Number of Registered Students Number of Students Who Applied After Registering Percentage Applied (%)
    Kano 20,814 17,122 82.3%
    Borno 16,353 13,798 84.4%
    Benue 16,127 11,754 72.9%
    Oyo 14,086 8,990 63.8%
    Kaduna 13,873 10,380 74.8%
    Katsina 13,538 10,952 80.9%
    Osun 13,368 8,093 60.5%
    Kogi 12,675 8,400 66.3%
    Plateau 11,624 9,328 80.2%
    Adamawa 11,219 8,977 80.0%
    Kwara 11,126 7,645 68.7%
    Taraba 10,499 7,604 72.4%
    Yobe 10,398 8,966 86.2%
    Ogun 10,387 7,097 68.3%
    Akwa-Ibom 9,594 6,517 67.9%
    Bauchi 8,358 6,517 78.0%
    Kebbi 7,873 6,333 80.4%
    Gombe 7,594 6,121 80.6%
    Niger 7,487 5,804 77.5%
    Jigawa 6,937 5,535 79.8%
    Ondo 6,519 3,854 59.1%
    Nasarawa 6,192 4,789 77.3%
    Ekiti 6,065 3,497 57.6%
    Imo 5,458 2,802 51.3%
    Delta 4,943 2,771 56.1%
    Ebonyi 4,749 2,981 62.8%
    Cross-River 4,282 2,476 57.8%
    Enugu 4,133 2,247 54.4%
    Abia 4,068 2,170 53.4%
    Lagos 3,947 2,347 59.5%
    Anambra 3,747 1,840 49.1%
    Zamfara 3,721 2,986 80.2%
    Edo 3,612 2,149 59.5%
    Rivers 3,612 2,162 59.9%
    Sokoto 3,014 2,055 68.2%
    Bayelsa 1,977 1,267 64.1%
    FCT-Abuja 894 676 75.6%

    Analysis

    • This data is indicative of regional differences in both registration and application rates for student loans across Nigeria.
    • Northern states like Kano, Borno, and Benue have shown higher registration numbers, which could be attributed to the larger youth population and the demand for educational support in these regions.
    • Meanwhile, states like Bayelsa and FCT-Abuja have comparatively lower figures, reflecting either a smaller student population or less awareness and access to loan facilities.
    • The percentages reveal that a majority of students who registered for the loan eventually applied, with states like Borno (84.4%) and Yobe (86.2%) showing particularly high conversion rates.
    • In contrast, states like Anambra (49.1%) and Imo (51.3%) had lower application rates after registration.

    Pie Chart: Student Loan Registration by State of Origin

    Below is the pie chart representing the Student Loan Registration by State of Origin in Nigeria based on the data provided. Each state is labeled with the percentage of the total number of registered students, visually showing the distribution of registrations across the states.

  • NELFUND: Top 5 States with Highest Student Loan Registrations

    NELFUND: Top 5 States with Highest Student Loan Registrations

    The Nigerian Education Loan Fund (NELFUND) has provided valuable insights into the student loan registration process across the country.

    Below, we explore the top five states with the highest student loan registrations, offering a detailed overview of the factors contributing to their impressive numbers.

    1. Kano State

    • Number of Registered Students: 20,814
    • Number of Students Who Applied After Registering: 17,122
    • Percentage Applied: 82.3%

    Kano State tops the list with the highest number of student loan registrations. With over 20,000 students registered, the state has demonstrated a strong commitment to higher education, possibly driven by its large population and robust educational infrastructure. The high percentage of students who followed through with applications (82.3%) indicates effective awareness campaigns and support systems in place to assist students in accessing financial aid.

    2. Borno State

    • Number of Registered Students: 16,353
    • Number of Students Who Applied After Registering: 13,798
    • Percentage Applied: 84.4%

    Despite the challenges posed by insecurity, Borno State ranks second, with a commendable registration figure. The state’s educational authorities and institutions have clearly worked hard to ensure that students are aware of and utilize the opportunities provided by NELFUND. The fact that 84.4% of registered students proceeded to apply for loans is a testament to the state’s resilience and focus on education as a tool for empowerment.

    3. Benue State

    • Number of Registered Students: 16,127
    • Number of Students Who Applied After Registering: 11,754
    • Percentage Applied: 72.9%

    Benue State, known as the “Food Basket of the Nation,” has also made significant strides in student loan registrations. The state’s education system appears well-organized, as reflected in the high registration numbers. However, the application follow-through rate is slightly lower at 72.9%, indicating a potential area for improvement in helping students complete the loan application process.

    4. Oyo State

    • Number of Registered Students: 14,086
    • Number of Students Who Applied After Registering: 8,990
    • Percentage Applied: 63.8%

    Oyo State, with its rich history in education, particularly higher education, secures the fourth position. The state’s capital, Ibadan, is home to Nigeria’s first university, and this legacy of academic excellence continues to influence student participation in programs like NELFUND. However, Oyo State has the lowest application percentage among the top five, at 63.8%, suggesting a need for more targeted efforts to ensure that registered students complete their applications.

    5. Kaduna State

    • Number of Registered Students: 13,873
    • Number of Students Who Applied After Registering: 10,380
    • Percentage Applied: 74.8%

    Kaduna State rounds out the top five, with nearly 14,000 students registering for the NELFUND student loan program. The state’s commitment to education is evident in its strong application rate of 74.8%. Kaduna has long been a hub for educational development in Northern Nigeria, and its performance in the NELFUND registration process reflects this tradition.

     

  • NELFUND Disburses Student Loans to 40 Additional Institutions [Full List]

    NELFUND Disburses Student Loans to 40 Additional Institutions [Full List]

    The Nigeria Education Loan Fund (NELFUND) has announced the disbursement of student loans to 40 more institutions, bringing the total number of benefiting institutions to 59.

    NELFUND in a statement via their X account emphasized its ongoing mission to make quality education accessible to Nigerian students regardless of their financial circumstances.

    “NELFUND is pleased to announce that it has successfully disbursed Student Loans to 40 additional institutions, bringing the total disbursements to institutions to 59,” the statement read.

    “This expansion marks a significant milestone in NELFUND’s ongoing commitment to providing access to quality education for all Nigerian students, regardless of their financial circumstances.”

    The disbursement amounts to over N2.1 billion, benefiting a total of 18,998 students nationwide.

    Below is a table with the full list of institutions and their corresponding loan amounts:

    S/N Institution State Loan Amount (₦)
    1 Federal Polytechnic Nekede Imo ₦368,400.00
    2 Michael Okpara University of Agriculture, Umudike Imo ₦71,016,220.00
    3 Delta State University, Abraka Delta ₦45,973,600.00
    4 Ebonyi State University Ebonyi ₦78,313,000.00
    5 Alex Ekwueme Federal University, Ndufu Anambra ₦193,377,100.00
    6 Federal University of Health Science Ila Orangun Osun ₦7,448,000.00
    7 Federal University Wukari Taraba ₦97,398,000.00
    8 Olabisi Onabanjo University Ogun ₦7,265,000.00
    9 University of Ibadan Oyo ₦9,797,450.00
    10 Osun State University Osun ₦218,954,500.00
    11 Usmanu Danfodio University Sokoto ₦226,931,440.00
    12 Zamfara State University Zamfara ₦2,340,800.00
    13 Emmanuel Alayande University of Education Oyo ₦4,050,500.00
    14 Federal Polytechnic Bali Taraba ₦2,589,000.00
    15 Federal University of Agriculture Abeokuta Ogun ₦133,995,450.00
    16 Federal University of Health Science Azare Bauchi ₦14,170,000.00
    17 Federal University Gusau Zamfara ₦218,554,000.00
    18 Federal University of Technology Ikot-Abasi Akwa Ibom ₦6,308,000.00
    19 Lagos State University of Education Lagos ₦14,378,000.00
    20 Moshood Abiola Polytechnic Ogun ₦3,485,000.00
    21 Ogun State Institute of Technology Ogun ₦5,907,998.00
    22 Tai Solarin University of Education Ogun ₦10,802,000.00
    23 University of Ilesa Osun ₦98,871,500.00
    24 University of Port Harcourt Rivers ₦66,906,030.00
    25 Gombe State University Gombe ₦3,621,000.00
    26 Federal University of Technology Babura Jigawa ₦64,565,000.00
    27 Nigerian Army University, Biu Borno ₦45,138,500.00
    28 Abubakar Tafawa Balewa University Bauchi ₦256,912,600.00
    29 Yusuf Maitama Sule University Kano ₦4,297,178.00
    30 Bauchi State University Bauchi ₦12,628,500.00
    31 Yaba College of Technology Lagos ₦733,000.00
    32 Hussaini Adamu Federal Polytechnic Jigawa ₦621,256.80
    33 Ignatius Ajuru University of Education Rivers ₦107,245,000.00
    34 Federal University of Technology Akure Ondo ₦34,428,000.00
    35 Ladoke Akintola University Oyo ₦8,670,000.00
    36 Kogi State University, Kabba Kogi ₦10,820,650.00
    37 Niger State Polytechnic, Zungeru Niger ₦4,535,000.00
    38 Federal University of Health Science Otukpo Benue ₦32,450,844.00
    39 Abia State University Abia ₦12,469,500.00
    40 Abraham Adesanya Polytechnic Ogun ₦7,846,500.00
  • NELFUND Approves Loans for 3,283 University of Ibadan Students

    NELFUND Approves Loans for 3,283 University of Ibadan Students

    The Nigerian Education Loan Fund (NELFUND) has approved the loan applications of 3,283 students from the University of Ibadan, Okay.ng reports.

    This was confirmed by the university’s management in a circular issued on Wednesday, September 18, 2024.

    While the loans have been approved, the disbursement of funds remains pending, according to an internal memorandum released by the varsity administration.

    The memo, signed by the university’s Registrar, G.O. Salisu, directed that students whose loans have been approved should be allowed to sit for their 2023/2024 first-semester examinations despite the pending release of funds.

    “Further to our circular number REG/13/I.26 of 13 September 2024, I write to inform the University of Ibadan community that the Nigerian Education Loan Fund has provided a list of 3,283 students whose loan applications have been approved,” the memo stated.

    It continued, “Although the funds have not yet been received by the university, the list of the affected students has been sent to the departments. All Heads of Departments have been instructed to allow these students to sit for the 2023/2024 first-semester examinations.”

    This announcement comes in the wake of recent protests by University of Ibadan students following a hike in tuition fees endorsed by the university’s governing council.

    The protests were triggered after a circular issued last Thursday by G.O. Saliu, the council’s secretary, informed students about the new fee structure for both newly admitted and returning undergraduate students.

    The university administration had previously instructed students to complete their registration and fee payments by Wednesday, September 4, 2024, to participate in the first-semester examinations.

    However, the approval of the loans offers financial relief for the 3,283 students, allowing them to move forward with their academic obligations.

  • NELFUND Resolves BVN Verification Issue for Student Loan Applicants

    NELFUND Resolves BVN Verification Issue for Student Loan Applicants

    The Nigerian Education Loan Fund (NELFUND) has announced the resolution of a technical issue that disrupted the Bank Verification Number (BVN) verification process for students applying for loans, Okay.ng reports.

    The issue, which began over the weekend and extended through the public holiday, caused significant delays for many students attempting to complete their loan applications.

    In a statement posted on Wednesday via NELFUND’s official X (formerly Twitter) account, the organization confirmed that the problem had been fully resolved by Tuesday morning.

    NELFUND encouraged all affected students to log back into the application portal, complete their BVN verification, and proceed with their applications.

    “We are pleased to inform you that the issue has been addressed and fully resolved as of yesterday morning. We kindly advise all affected students to log back into the portal, complete the BVN verification process, and proceed with your loan application,” the statement read in part.

    The organization also expressed gratitude to students for their patience during the disruption, assuring them that the application process would now proceed without further interruptions.