The Nigerian Education Loan Fund (NELFUND) has disclosed that a total of 449,039 students across the country have benefited from its student loan programme since the official launch of its application portal on May 24, 2024.
In its latest daily status update released on Monday, August 11, 2025, the agency confirmed that the cumulative amount disbursed under the scheme as of August 6 stood at ₦86,347,458,384.
According to the figures, ₦47,629,338,384 of the total amount was paid directly to 218 accredited institutions to cover tuition fees, while ₦38,718,120,000 was transferred to students as upkeep allowances. This two-pronged disbursement method ensures that beneficiaries not only meet their academic obligations but also receive financial support for daily living expenses.
okaynews.com reports that the data from NELFUND’s dashboard shows a total of 731,140 students have registered on the loan portal since inception. Out of these, 720,732 successfully submitted loan applications — representing a remarkable 98 percent success rate.
The agency noted that the programme continues to record steady growth, with daily increases averaging 933 new successful registrations and 1,094 additional approved applications.
A NELFUND statement emphasised that “the scheme delivers on President Bola Tinubu’s Renewed Hope Agenda of empowering every Nigerian student through access to higher education funding.” The fund reaffirmed its commitment to expanding access to education for all eligible citizens.
