Business
Nigerian Education Loan Fund Disburses ₦206B to Students
Nigerian Education Loan Fund disburses ₦206.29 billion to over 1.16 million students for tuition and living expenses since 2024 launch
The Nigerian Education Loan Fund (SELF) has announced that it has disbursed ₦206.29 billion to 1,164,222 student beneficiaries since the programme began, providing vital financial support for tuition and upkeep.
Also read: Kaduna College of Education Receives ₦31.3M Institutional Loan from NELFUND
The fund’s Daily Status Report as of March 9, 2026, shows strong participation from students nationwide.
Since the application portal opened on May 24, 2024, a total of 1,734,985 applications have been received, with over 1.16 million students already benefitting.
A total of 270 tertiary institutions have received support under the initiative.
Of the ₦206.29 billion disbursed, ₦128.84 billion was paid directly to institutions for tuition fees, while ₦77.45 billion was allocated to students as upkeep allowances to cover living expenses.
The report also notes a continued rise in applications, with 1,910 new submissions recorded in a single day, reflecting sustained demand and awareness of the programme.
The Nigerian Education Loan Fund was established by the Federal Government to help students in public tertiary institutions access higher education without being hindered by financial constraints.
The initiative, created under the Student Loans Act, allows beneficiaries to repay loans after graduation upon securing employment.
Also read: Cross River Alumni Propose Tax-Based Education Fund
Officials say the programme forms part of broader efforts to expand access to higher education and reduce the financial burden on students and their families, providing a lifeline to countless aspiring graduates across Nigeria
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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