The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦154.37 billion to support students across tertiary institutions in Nigeria, marking a major milestone in the implementation of the Federal Government’s student loan scheme.
According to NELFUND’s Student Loan Disbursement Daily Status Report generated on Friday, 3rd January 2026, the scheme has received a total of 1,323,949 applications since the launch of the loan portal on 24th May 2024. Out of this figure, 788,947 students have successfully benefited from the programme, reflecting strong uptake and growing confidence in the initiative.
The report shows that as of 9th December 2025, institutional fees amounting to ₦82,346,711,374.00 had been paid directly to 262 beneficiary institutions nationwide. In addition, ₦72,026,840,000.00 was disbursed to students as upkeep allowances, providing critical financial relief for living and academic expenses.
Overall, the cumulative loan disbursement under the scheme stands at ₦154,373,551,374.00, underscoring the scale and impact of the programme within a relatively short period.
NELFUND noted that the student loan initiative has recorded significant milestones since its inception, particularly in ensuring timely payment of institutional fees and direct upkeep support to students. The fund described the progress as a practical demonstration of the Federal Government’s commitment to expanding access to education and reducing the financial burden on Nigerian students and their families.
The student loan scheme is a key component of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at empowering young Nigerians through education, human capital development, and inclusive economic growth.
