The Nigerian Education Loan Fund (NELFUND) has announced that it has disbursed a total of ₦86.3 billion in loans to 449,039 students since the official launch of its loan portal on May 24, 2024.
According to the latest daily status update released on Monday, August 11, 2025, the disbursement figures reflect data up to August 6, 2025.
The Fund emphasized that the loan scheme is a key component of President Bola Tinubu’s Renewed Hope Agenda, aimed at empowering Nigerian students by providing easier access to funding for higher education.
Of the total amount disbursed, approximately ₦47.6 billion was paid directly to 218 educational institutions to cover tuition fees, while ₦38.7 billion was allocated to students as upkeep allowances.
The report also highlighted impressive registration and application numbers. A total of 731,140 students have registered on the loan portal, with 720,732 successfully applying for loans a success rate of 98%.
Data from the portal’s dashboard indicates steady growth, with an average daily increase of 933 new registrants and 1,094 additional successful loan applicants.
This robust uptake signals growing confidence in the scheme’s ability to support students nationwide in their educational pursuits.
