The Nigerian Education Loan Fund (NELFUND) has disbursed ₦161,968,700.00 (one hundred and sixty-one million, nine hundred and sixty-eight thousand, seven hundred naira) to 2,400 students of Borno State University, Maiduguri, as part of the second batch of its student loan programme for the 2024/2025 academic session.
The confirmation came in a letter of acknowledgment signed by the Vice Chancellor of the university, Professor Babagana Gutti. The VC praised the process as “transparent and diligent.”
VC Expresses Gratitude for Transparent Process
The Vice Chancellor of Borno State University, in a letter titled “PAYMENT ADVICE FOR STUDENTS LOAN DISBURSEMENT,” formally acknowledged receipt of the funds. Professor Gutti wrote:
“I write to acknowledge the receipt of the sum of 161,968,700 Naira only, being second batch payment for the school fees of 2,400 students under the student loan program for the 2024/2025 academic session.
The management of Borno State University, Maiduguri, wishes to appreciate you for the due diligence and transparent process employed in the selection of the above students of our institution.
We look forward to future support to our students and the disbursement of the loan to the other subsequent batches.
Accept the assurance of my esteemed regard.”
This acknowledgment highlights both the critical support offered to students and confidence in NELFUND’s fair and transparent operations.
NELFUND’s Expanding Role
NELFUND, established under the Student Loans (Access to Higher Education) Act, 2024, was set up to provide interest-free loans to students in Nigeria’s public universities, polytechnics, and colleges of education.
Since its launch, the Fund has rolled out successive tranches of support. By early 2025, it reported disbursing ₦22.7 billion to over 215,000 students across the country. Total institutional allocations surpassed ₦50 billion by April 2025.
National Significance
The latest release to Borno State University underscores the federal government’s effort to expand access to higher education. Especially in states where insecurity and economic challenges have constrained learning opportunities.
Officials say further disbursements to other institutions are expected in the coming months. With oversight measures in place to ensure transparency and prevent mismanagement.