Data released by the Nigerian Education Loan Fund (NELFUND) has revealed that students from Kano, Borno, and Benue states are leading the charge in applying for the government’s student loan scheme. This initiative, which is part of President Bola Tinubu’s educational reforms, aims to provide financial assistance to Nigerian students pursuing higher education.
On Friday, NELFUND shared the application statistics on its official X account, @nelfnigeria, offering a detailed breakdown of the numbers by state. According to the data, Kano State has the highest number of applicants, with 17,122 students seeking loans. Borno State follows closely with 13,798 applications, while Benue State recorded 11,754 applicants. These three states are the only ones that have surpassed the 11,000 mark in applications.
This surge in applications reflects the significant demand for financial assistance in these regions, highlighting the critical need for educational support among students in Kano, Borno, and Benue.
The student loan scheme represents a cornerstone of President Bola Tinubu’s administration’s educational initiatives. Shortly after assuming office, President Tinubu signed the Access to Higher Education Act, which established the legal framework for providing loans to financially disadvantaged Nigerian students. These loans are designed to help cover tuition fees at tertiary institutions, making higher education more accessible to students who might otherwise be unable to afford it.
The Nigerian Education Loan Fund, created under this legislation, is tasked with processing loan applications, managing grants, and overseeing loan disbursements and recovery efforts. The fund is supported by various revenue streams and engages in financial activities to ensure its sustainability and effectiveness.
In addition to the leading states, the data also provides a comprehensive view of student loan applications from other regions across Nigeria. The following is a summary of the number of applicants from each state:
- Kaduna: 10,380
- Katsina: 10,952
- Oyo: 8,990
- Osun: 8,093
- Kogi: 8,400
- Plateau: 9,328
- Adamawa: 8,977
- Kwara: 7,645
- Taraba: 8,668
- Yobe: 8,966
- Ogun: 5,943
- Akwa Ibom: 6,525
- Bauchi: 6,517
- Kebbi: 6,333
- Gombe: 6,121
- Niger: 5,804
- Jigawa: 5,535
- Ondo: 3,854
- Nasarawa: 4,789
- Ekiti: 3,497
- Imo: 2,802
- Delta: 2,771
- Ebonyi: 2,981
- Cross River: 2,476
- Enugu: 2,247
- Abia: 2,170
- Lagos: 2,347
- Anambra: 1,840
- Zamfara: 2,986
- Edo: 2,149
- Rivers: 2,162
- Sokoto: 2,055
- Bayelsa: 1,267
- Federal Capital Territory (FCT): 676
Implications and Future Outlook
The high number of applicants from Kano, Borno, and Benue states underscores the pressing need for continued financial support in these regions. The student loan scheme is expected to play a crucial role in empowering Nigerian students by providing them with the necessary resources to complete their education.
As the scheme continues to gain traction, it is anticipated that more students from other states will take advantage of this opportunity, further contributing to the development of the nation’s educational sector.
NELFUND’s commitment to transparency and efficiency in managing the loan process will be critical in ensuring that these funds reach those who need them the most. The ongoing monitoring of application trends will also help the government tailor its educational policies to meet the specific needs of students across the country.
