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
Africa’s technology ecosystem has produced innovative fintech, e-commerce and digital service companies. But there is another important part of the technology value chain that deserves attention: semiconductor engineering.
ChipMango is developing capabilities in chip design, verification and emerging hardware technologies. Its story demonstrates the kind of specialised innovation that deserves greater investment and attention.
Through Boost Africa, a joint initiative of the European Investment Bank (EIB) and African Development Bank, supported by the EU, the EIB helps channel investment through venture capital funds to innovative African enterprises. Discover how this
investment ecosystem is helping create opportunities for businesses working on Africa’s technological future.
Watch the video:
From smartphones and laptops to vehicles and AI systems, semiconductors are essential to modern technology. Yet, the expertise required to design these components remains concentrated in a relatively small number of global
technology hubs.
ChipMango is working to expand access to semiconductor engineering skills and commercial opportunities for African engineers. Its journey also highlights why initiatives such as EIB’s Boost Africa matter. By supporting venture capital funds investing in innovative African businesses, Boost Africa helps strengthen the financing ecosystem needed to develop specialised technology companies. Watch the video to learn how ChipMango is contributing to Africa’s place in the global technology industry.
Watch the video:
Business
ChipMango: Building Nigeria’s Semiconductor Engineering Capabilities for the Global Tech Industry
Africa’s participation in the global technology industry should go beyond
using digital products and services.
African engineers also have an opportunity to contribute to the technologies themselves, including the semiconductors that power smartphones, computers, vehicles and artificial intelligence.
Nigerian semiconductor technology company ChipMango is working to develop this capability by connecting engineering education with practical chip-design and verification projects.
Through its investment in African venture capital funds, the European Investment Bank (EIB), under the Boost Africa
initiative, is helping strengthen the ecosystem that supports innovative businesses like ChipMango.
Boost Africa is a joint initiative of the EIB and African Development Bank, supported by the European Union.
Watch the video to discover ChipMango’s story and the opportunities it is helping create.
Watch the video:
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