The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of ₦86.3 billion in student loans to 449,039 beneficiaries since the launch of its portal on May 24, 2024.
According to the latest daily status report released on Monday, August 11, 2025, the total disbursement stood at ₦86,347,458,384 as of August 6, 2025. The breakdown of this amount includes ₦47,629,338,384 paid directly to 218 institutions across the country as tuition fees, and ₦38,718,120,000 given to students as upkeep allowances.
The report also revealed that a total of 731,140 students have registered on the loan portal. Out of this number, 720,732 have successfully applied for the loan, representing an impressive 98% application success rate.
Data from the NELFUND dashboard indicates steady growth, with the number of successful registrants increasing by 933 daily and successful applicants rising by 1,094 each day.
In its statement, NELFUND emphasized the broader national vision behind the scheme, stating that “the scheme delivers on President Bola Tinubu’s Renewed Hope Agenda of empowering every Nigerian student through access to higher education funding.”
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