The Nigerian Education Loan Fund (NELFUND) has confirmed that since the official launch of its loan application portal on May 24, 2024, a total of 449,039 Nigerian students have accessed financial support through its student loan programme.
According to the latest daily update released on Monday, August 11, 2025, the fund has disbursed an impressive ₦86,347,458,384 as of August 6, 2025.
The breakdown of the disbursement shows ₦47,629,338,384 channelled directly to 218 higher institutions across the country for tuition payments, while ₦38,718,120,000 has been transferred to students as upkeep allowances to support their daily living expenses.
NELFUND’s dashboard data indicates that 731,140 students have registered on the loan platform so far. Of these, 720,732 have successfully completed the application process — representing a 98% success rate. On average, the portal records 933 new successful registrations daily and 1,094 fresh loan approvals.
The fund described the initiative as a direct fulfilment of President Bola Ahmed Tinubu’s “Renewed Hope Agenda,” which prioritises expanding access to higher education for all Nigerians, regardless of financial status.
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