The Nigerian Education Loan Fund (NELFUND) says it has disbursed N140.9 billion in student loans since its application portal opened on May 24, 2024, bringing financial relief to thousands of learners across the country.
In its Daily Status Report released on Sunday via its official X handle, the fund said it had received 1,193,228 applications, with 788,947 students already benefiting from the scheme.
As of November 12, 2025, NELFUND recorded 35,773 new successful applications for the week and 3,367 on that day, marking a slight increase from the previous day.
The report shows that payments have been made to 262 institutions, covering tuition fees, institutional charges and upkeep allowances. This includes N88.9 million in institutional fees and N53.7 billion in upkeep support for students.
The fund’s Managing Director, Akintunde Sawyerr, also revealed plans to extend the loan scheme to vocational and skills acquisition programmes, saying it aligns with the Federal Government’s broader education and skills development agenda.
“At NELFUND, we have a mandate to also support vocational skills,” he said. “We have not started yet, but the President Bola Tinubu administration has ensured full coverage around the skills issue.”
Sawyerr noted that the next phase of Nigeria’s development requires a balance between academic training and technical competence.
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