The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N43.383 million to support 304 students of the Nigeria Maritime University for the 2025/2026 academic session.
The disbursement, which covers the institutional fees of the beneficiaries, was confirmed by the university’s Vice-Chancellor, Prof. Flora Tobolayefa Oluwafemi, in a letter addressed to the Managing Director and Chief Executive Officer of NELFUND.
According to the letter, the funds were received in two batches. The first tranche of N30.923 million was credited to the university’s account on March 24, 2026, covering 214 students, while a second payment of N12.46 million was received on April 17, 2026, benefiting an additional 90 students.
The two payments bring the total amount disbursed by NELFUND to the institution for the current academic session to N43.383 million, covering 304 students.
Prof. Oluwafemi, on behalf of the university’s management and students, expressed appreciation to the Federal Government and NELFUND for the intervention, describing it as a significant relief for students facing financial challenges.
She noted that the student loan scheme has helped to reduce the burden of educational expenses on beneficiaries while promoting uninterrupted access to quality maritime education.
The Vice-Chancellor also assured NELFUND that the funds would be applied strictly to the accounts of the respective beneficiaries in line with the objectives of the programme.
She commended the Federal Government’s commitment to expanding access to higher education through student-focused interventions and expressed the university’s readiness to sustain collaboration with NELFUND in advancing educational opportunities for Nigerian students.
NELFUND was established by the Federal Government to provide financial assistance to eligible students in tertiary institutions across the country, to improve access to higher education and reduce the impact of economic constraints on learning.
