Best Student Loan Program in Nigeria: 10 Unfold

Education is a fundamental pillar of personal and societal development, and access to quality education is a primary concern for many individuals in Nigeria. To help bridge the financial gap and to make higher education more accessible, The student loan program in Nigeria has become an important part of the educational landscape in Nigeria. The student loan program in Nigeria provides financial assistance to students pursuing various levels of education, from undergraduate to postgraduate studies.

The Student loan programs in Nigeria enable students to access higher education opportunities by offering financial support to cover their tuition fees, books, accommodation, and other related expenses. In Nigeria, where the cost of education can be a significant barrier for many, the student loan program in Nigeria helps talented and merited individuals achieve their academic aspirations, ultimately contributing to personal growth, workforce development, and national progress in the country.

There are several study loan programs and financial aid options available to students in Nigeria. We will discuss it as we proceed with the Eligibility requirements.

The Student Loan Program in Nigeria

1. Federal Government Scholarship Awards

The federal government scholarship award is one of the student loan programs in Nigeria. The government offers various scholarship programs to eligible Nigerian students at the federal level. These programs include the Bilateral Education Agreement (BEA) Scholarships and the Federal Scholarship Board (FSB) scholarships.

Types of scholarships offered by the federal government

(i) undergraduate


Filed of study

(i)Undergraduate level – Engineering, Geology, Agriculture, Sciences, Mathematics, Environmental Sciences, Sports, Law, Social Sciences, Biotechnology, Architecture, Medicine (very limited), Pilot Engineering, Neurologist.

(ii) Postgraduate level (Masters Degree and PhD) in all fields. 

Eligibility Criteria for the Scholarship

(i) Undergraduate Scholarship

  • All applicants for undergraduate degree courses must possess a minimum qualification of Five (7) Distinctions (As & Bs) in the Senior Secondary School Certificates, WASSCE/WAEC (May/June) only in the subjects relevant to their fields of study including English Language and Mathematics. 
  • Certificates should not be more than two (2) years old for non-African countries
  • In African countries, the age of the certificate is one year only. 
  • The age limit is from 17 to 20 years. 

(ii) Postgraduate scholarships 

  • All applicants for Postgraduate degree courses must hold a First Degree with 1st Class or at least 2nd Class Upper Division.
  • All applicants must have completed the N.Y.S.C. program. 
  • The age limit is 35 years for Masters and 40 years. 
  • For Ph.D. N.Y.S.C discharge or exemption certificates only are accepted Evidence of readiness to be released by an employer.

How to Apply for a Scholarship

  • Interested applicants should visit the Federal Ministry of Education’s website
  • Click on the Federal Scholarship Board ICON on the Home Page.
  • Read the Guidelines and then Complete the Application Form online
  • Print the completed Application Form.

Requirement for the selected candidate

  • Authenticated copies of academic certificates
  • Data page of the current International passport
  • Specified Medical Reports from Government hospitals
  • Birth Certificate & Indigene letter
  • Police Clearance Certificate where necessary.

2. State Government scholarships

State government scholarship is a student loan program in Nigeria that many Nigerian states offer to support students from their respective states.

State government scholarships are financial aid programs offered by individual Nigerian states to support students from their respective states in pursuing higher education. These scholarships are offered to promote education and provide financial assistance to students to help them cover tuition fees, textbooks, and other educational expenses. Each state in Nigeria may have its scholarship program with specific eligibility criteria and application procedures.

Some similarities in eligibility criteria for state government scholarships

  • The first criterion to qualify for the scholarship award is that you must be an indigene of Benue State.
  • You must be a student of an approved institution.
  • You must have good grades.
  • Students in Higher Institutions like universities, Polytechnics, College of Education, etc. are all expected to have a minimum CGPA of 3.0
  • Eligible candidates will have to go through screening where credentials will be verified.
  • First School Living Certificate (FSLC).
  • Certificate of Origin.
  • Statement of Result containing your CGPA (That is for University/Polytechnic/ College/ School of Nursing Students etc.).
  • The first criterion to qualify for the scholarship award is that you must be an indigene of Delta State.

3. Nigeria Universities Scholarships

Several Nigerian universities offer scholarships and financial aid to outstanding students. These scholarships are often merit-based, need-based, or awarded based on other criteria, and students need to meet specific academic criteria to be eligible for this student loan program in Nigeria.

To be eligible for these scholarships 

  • An applicant should submit academic transcripts
  • Letter of recommendation
  • Written Essay.

4. Private Organization and Foundation Scholarship

The non-governmental organizations ( NGOs) and foundations scholarships in Nigeria are for those seeking scholarship opportunities. The aim is to aid students or entrepreneurs who are not financially capable of meeting the needed requirements to study and help them accomplish their educational dreams.

These various private organizations and foundations in Nigeria provide scholarships and study loans to students. Some examples include the MTN Foundation Scholarship, NNPC/Total Scholarship Scheme, Shell Nigeria Scholarships, Jim Ovia Foundation Leadership Scholarship for graduates and undergraduates, David Oyedepo Foundation Scholarship for African Students, and Gani Fawehinmi Scholarships.

The Eligibility criteria for this Student loan program in Nigeria or scholarship vary depending on the one that offers the scholarship, so it is advisable to go through the official website.

5. Bank Loans

Several banks in Nigeria offer student scholarships and educational support programs to help students pursue their higher education. These scholarships are part of the bank’s corporate social responsibilities initiatives and aim to promote education and support talented and deserving students.

These Nigerian banks offer education loans to students to cover their tuition fees and other educational expenses. These loans may require a guarantor to be able to access this student loan program in Nigeria.

It is important to visit the official websites of these banks or contact their customer service for more information on scholarship opportunities, eligibility requirements, application processes, and deadlines.

Banks that give Student loan

  • Zenith Bank Plc.
  • First Bank of Nigeria Limited
  • United Bank for Africa(UBA)
  • Access Bank Plc.
  • Diamond Bank

Related Topic: Banks that Offer Business loan in Nigeria

6. TETFund Scholarship

The Tertiary Education Trust Fund (TETFUND) Scholarship in Nigeria is made available to students in tertiary institutions to enable them to undergo academic developmental training in pursuit of a postgraduate course in Nigeria or overseas. This scholarship grant will not be available to sponsor you if you intend to study at the same university where you work.

For this student loan program in Nigeria to be granted by TETFund, you have to study in universities recognized or approved by the National University Commission.

7. PTDF Scholarship

The Petroleum Technology Development Fund (PTDF) offers scholarships to Nigerian students pursuing postgraduate studies in the fields of engineering, geology, science, and management in oil and gas-related disciplines.

PTDF scholarships are highly competitive, only candidates who are outstanding across the board will be selected. Academic merit is evidenced by the quality of degrees, full academic transcripts, other professional qualifications acquired and relevant publications to be referenced by the applicant (Ph.D. applicants only).

8. Nigeria LNG Undergraduate Scholarship

The Nigeria LNG Limited (NLNG) offers the NLNG Undergraduate Scholarship to support Nigerian students pursuing their undergraduate studies in Nigerian universities. This scholarship program is typically targeted at high-achieving students and provides financial assistance to cover tuition fees and other related educational expenses.

Eligibility Criteria

  • Applicants must be Nigerian citizens.
  • Applicants must have gained admission to a Nigerian university for a full-time undergraduate program.
  • Applicants must have completed their WAEC/NECO examinations with at least five (5) credits, including Mathematics and English Language, in one sitting.
  • Applicants must not be on any other scholarship program.
  • Applicants must not have a parent or guardian working at NLNG.

The Application Process

  • The application process for the NLNG Undergraduate Scholarship usually involves the following steps:
  • Visit the official NLNG website to access the scholarship portal when the scholarship application window is open.
  • Create an account on the scholarship portal and fill out the scholarship application form.
  • Upload the required documents, including your admission letter, WAEC/NECO result, JAMB result, and other relevant documents.
  • Submit your application before the specified deadline.
  • Shortlisted candidates may be invited for interviews or further assessment.
  • Successful applicants are typically notified of their selection for the scholarship.

9. Niger Delta Development Commission (NDDC) Scholarship

The Niger Delta Development Commission (NDDC) Scholarship program is an initiative by the NDDC to provide scholarships, financial support, and educational opportunities to indigenes of the Niger Delta region in Nigeria. The scholarship program is aimed at empowering and promoting education among the youth of the Niger Delta region.

The eligibility criteria are listed on the official website for this student loan program in Nigeria.

10. Agricultural Loan and Grants

This is another type of student loan program in Nigeria where agricultural-focused agencies, such as the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Program, may provide financial support to students pursuing agricultural-related courses.

The loan is available for both undergraduate and postgraduate studies.


The student loan program in Nigeria plays an essential role in providing financial support to students pursuing higher education at both undergraduate and postgraduate levels. These programs are designed to ease the financial burden of education from parents or guidance and promote access to quality education for merited students.

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