Since its inception in May 2024, the Nigerian Education Loan Fund (NELFUND) has extended financial assistance to 449,039 students nationwide, according to fresh statistics released on Monday, August 11, 2025.
The scheme, designed to cover both tuition and personal expenses, has disbursed ₦86,347,458,384 so far. Tuition payments totalling ₦47,629,338,384 were channelled directly to 218 institutions, while upkeep allowances amounting to ₦38,718,120,000 were credited to students.
The daily performance data from the fund’s dashboard shows robust participation: 731,140 students have signed up on the portal, and 720,732 have completed loan applications successfully. This translates to a 98 percent application success rate.
According to the report, the loan scheme is growing steadily, with an average of 933 new successful registrations and 1,094 approved applications recorded each day.
A NELFUND spokesperson reiterated that “the scheme delivers on President Bola Tinubu’s Renewed Hope Agenda of empowering every Nigerian student through access to higher education funding,” stressing that the organisation remains committed to its goal of nationwide educational empowerment.