NELFUND: Ehindero hails Tinubu, says agency processes 50,000 applications weekly
Editor
ABUJA — THE Chairman of the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing, Hon. Ifeoluwa Ehindero, has declared that the Nigerian Education Loan Fund (NELFUND) has successfully broken financial barriers to higher education for Nigerian youths.
Speaking on Wednesday in Abuja during an interactive session with executive members of the Association of Corporate Online Editors (ACOE) in his office, the lawmaker expressed satisfaction with the agency’s performance, noting that it has exceeded expectations within a short period.
According to Ehindero, NELFUND has evolved into a vital interventionist agency, providing sustainable tuition support and upkeep stipends to eligible students across the country.
“I am quite satisfied with the overall performance of NELFUND. The agency is barely a year plus, having started in 2024, yet today they have over a million applications,” Ehindero stated.
He revealed that as of October 2025, the agency had disbursed over N116 billion in institutional fees and stipends to approximately 983,000 beneficiaries across 265 institutions.
“These are not ghost applications; they are verifiable. To verify 983,000 applicants is no small feat. At their peak, they process about 50,000 applications in a single week. The Managing Director is working tirelessly to market the programme and ensure its success,” he added.
The lawmaker commended President Bola Ahmed Tinubu for ensuring the agency remains fully funded. He noted that the President’s commitment is evidenced by the recent tax reforms.
“The President has mandated that funds must always be available so that Nigerian students do not get stuck. Under the new tax reforms, NELFUND has been captured under the 4% Development Levy.
“Out of the accessible profit, while TETFUND takes 50%, NELFUND has been allocated 15%. This is a significant increment from previous funding structures and shows the President is truly satisfied with their performance,” Ehindero said.
On the committee’s oversight functions, Ehindero disclosed that while NELFUND is performing well, some beneficiary institutions have created bottlenecks in the administration of the funds.
He revealed that some schools delay the activation of student portals even after receiving disbursements from NELFUND, a practice the committee is actively curbing.
“Our oversight has yielded results. I am happy to report that about 11 schools have refunded money to NELFUND. One particular school refunded N266 million. We are still on the necks of a few others identified for sharp practices,” he warned.
The Chairman urged NELFUND to further digitalise its processes to empower students directly.
“We need a system where a student’s dashboard is linked directly to the school portal. Once NELFUND disburses the money, the student should be able to activate their dashboard, make payments, and register for courses immediately, without waiting for the school to grant access,” he concluded
