In a significant move to enhance access to higher education, the Nigerian Education Loan Fund (NELFUND) has successfully disbursed a total of ₦459,600 to four students of Rufus Giwa Polytechnic, Owo, under the Federal Government’s Student Loan Program.
According to a public statement released by NELFUND on Monday via X (formerlyTwitter), this disbursement marks a new milestone in the implementation of the Student Loan Act and demonstrates the agency’s continued commitment to empowering Nigerian students through targeted financial assistance.
“This milestone underscores our continued commitment to supporting educational institutions and empowering students through targeted financial assistance,” the statement read.
Reacting to the development, Adegun O. S., the Acting Rector of Rufus Giwa Polytechnic, confirmed the receipt of the disbursed funds and expressed appreciation to NELFUND on behalf of the institution.
In a letter dated 16th July, 2025, the Acting Rector of the institution acknowledged funds receipt and equally appreciated NELFUND. He said “I write on behalf of management, staff, and student of Rufus Giwa Polytechnic, Owo to sincerely acknowledge and commend your esteem office for the disbursement of the sum of Four Hundred and Fifty Nine Thousand Six Hundred Naira (459,600) only to four of our students On March 11th, 2025, under the Nigerian Education Loan Fund (NELFUND) scheme.
“This timely intervention is a strong testament to the Federal Government’s commitment to educational access and equity, and we are deeply appreciative of the pivotal role your leadership continues to play in actualizing this noble vision.”
The Student Loan Program was launched following the enactment of the Student Loan Act signed by President Bola Ahmed Tinubu in 2023, which mandates the provision of interest-free loans to eligible students in public tertiary institutions across the country. The loan is designed to remove financial barriers to education, ensuring inclusivity and equal opportunity for all Nigerian youths.
A senior NELFUND official disclosed that additional disbursements are expected in the coming weeks, as more institutions complete the required data verification and upload to the Student Loan Application System (SLAS).
“We are working hand-in-hand with institutions nationwide. Once student data is verified and authenticated, the funds will be disbursed directly to beneficiaries in a timely and transparent manner,” the official said.
NELFUND continues to encourage students across Nigeria to apply through the official SLAS portal and follow due procedures for verification and approval.