The Nigerian Education Loan Fund (NELFUND) has disbursed ₦8.205 billion to students in eight tertiary institutions across Kogi State, with the intervention covering both institutional fees and students’ upkeep.
Data reviewed by New Daily Prime showed that ₦4.124 billion was disbursed for institutional fees, while another ₦4.082 billion went towards upkeep. The figures represent 35,710 institutional-fee applications and 34,154 upkeep applications, pointing to two major financial pressures facing students: paying school charges and meeting everyday expenses.
The Federal University, Lokoja received the largest share, taking ₦3.577 billion. Of this amount, ₦1.767 billion covered institutional fees for 15,408 applications, while ₦1.810 billion went to 14,655 upkeep applications.
Prince Abubakar Audu University followed with ₦1.956 billion. The institution received ₦904.207 million for 8,992 fee applications and ₦1.052 billion for 8,614 upkeep applications.
Kogi State University, Kabba, received ₦1.229 billion, comprising ₦654.877 million for institutional fees and ₦573.760 million for upkeep. Confluence University of Science and Technology received ₦805.238 million, while Federal Polytechnic, Idah got ₦609.655 million.
The other beneficiaries were Federal College of Education, Okene, with ₦8.867 million; Kogi State College of Education, Ankpa, ₦10.354 million; and Kogi State Polytechnic, Lokoja, ₦9.378 million.
The Kogi figures provide a closer picture of how the student-loan programme is being deployed. NELFUND does not only settle approved institutional charges. Its structure also provides an upkeep component designed to help beneficiaries handle living expenses while studying.
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NELFUND says its Student Loan initiative provides interest-free loans for institutional fees and upkeep. Approved institutional payments are sent to beneficiary institutions, while upkeep funds are transferred to students’ nominated bank accounts.
The Kogi intervention comes at a time of a rapid expansion of the scheme nationwide. NELFUND reported in September that it had disbursed ₦355.87 billion since its student-loan portal opened in May 2024. The figure comprised ₦192.89 billion in institutional payments and ₦162.98 billion in upkeep, with 1,659,853 applications processed as of September 3.
NELFUND’s impact figures also put the number of students supported nationwide at more than 1.1 million, with more than ₦191 billion listed as loans disbursed across 37 states.
However, the intervention is still a loan, not a grant. Beneficiaries are expected to repay the funds after completing their studies under the scheme’s repayment framework.
NELFUND’s terms provide that graduates participating in the National Youth Service Corps begin repayment two years after completing the programme, while employed beneficiaries are subject to repayment arrangements under the applicable rules.
That distinction matters for students and their families. The immediate effect is financial relief, but the money eventually becomes a repayment obligation for beneficiaries.
The programme is also attracting additional funding channels. NELFUND and the Economic and Financial Crimes Commission recently signed an agreement to facilitate cooperation over recovered funds, following a presidential directive concerning eligible recovered monies.
For students in Kogi, the ₦8.205 billion intervention therefore represents more than a headline figure. It shows how the student-loan system is being used to address two sides of the cost of tertiary education: the bill charged by the institution and the daily expenses carried by the student.
