The Nigerian Education Loan Fund (NELFUND) said on Sunday that it has disbursed a total of ₦140.9 billion in student loans since the scheme’s portal opened in May 2024.
According to the latest status report, 1,193,228 applications have been received, of which 788,947 students have so far benefited.
The funds cover tuition fees and upkeep allowances.
As of November 12, 2025, disbursements include ₦82.34 billion paid directly to 262 tertiary institutions for tuition, while ₦58.53 billion has been released as upkeep allowances to students.
The fund’s leadership says this marks a major milestone in expanding access to higher education, with plans underway to extend the scheme to vocational and skills-acquisition programmes.
