The Nigerian Education Loan Fund (NELFUND) said it has disbursed ₦161.97 billion under the national student loan scheme and has received more than 1.3 million applications since the programme began.
NELFUND’s daily status report, current as of early January, shows ₦89.94 billion was paid directly to institutions for tuition and fees while ₦72.03 billion went to students as upkeep allowances.
The report said 1,332,966 applications had been recorded to date, with a small daily increase in new submissions.
The fund — created by law in 2024 to run the Nigeria Student Loan Scheme — aims to give interest-free loans to students in public tertiary institutions, especially those from low-income homes.
NELFUND’s website and published status updates have been used to track disbursements and applications.
Different outlets reported slightly different application totals: Tribune said the scheme had recorded “over 1.36 million” applications, while BusinessDay and Punch cited figures around 1.33 million.
Officials say daily reporting and the large applicant pool produce small day-to-day changes in the count.
Observers say the numbers show strong demand for help with university costs but warn about delivery challenges.
Analysts note that disbursing cash to large numbers of students and ensuring proper use of funds will require improved verification, tighter school checks and clear repayment plans to make the scheme sustainable.
NELFUND have not released information about how many students have fully received support or the timetable for future disbursements, but says it will continue publishing daily updates so applicants and institutions can follow progress.
