The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N161.97 billion to students across the country, benefiting more than 864,000 undergraduates since the launch of the scheme in May 2024. According to the NELFUND Student Loan Disbursement Daily Status Report, current as of January 6, 2026, the fund has received 1,332,966 applications from inception, with 4,462 new applications recorded in the last reporting day, representing a 0.3 per cent increase.
A breakdown of the disbursements shows that N89.94 billion has been paid directly to institutions as tuition and institutional fees, while N72.03 billion has been released to students as upkeep allowances. In total, 263 public tertiary institutions across Nigeria have so far benefited from the scheme. The student loan programme, introduced by the administration of President Bola Ahmed Tinubu, is designed to provide interest-free financial support to students in public tertiary institutions, including federal and state universities, polytechnics, colleges of education, and vocational schools.
On his part, Akintunde Oluwole Sawyerr, the Managing Director of NELFUND, has continued to urge financially challenged students to take advantage of the loan scheme, describing it as a critical lifeline for completing their education. NELFUND reaffirmed its commitment to expanding access to higher education and ensuring that no qualified student is denied schooling due to financial hardship.
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