NELFUND Disburses N206.29 Billion in Student Loans

The Nigerian Education Loan Fund (NELFUND) has successfully disbursed N206.29 billion in student loans to 1.16 million beneficiaries, as reported on March 9, 2026. The loans cover tuition fees and student upkeep allowances, reflecting the program's progress since its launch.

The NELFUND student loan portal, which opened on May 24, 2024, has received a total of 1,734,985 applications, with 1.16 million already benefiting from the disbursements. The initiative aims to expand access to higher education in Nigeria and reduce dropout rates caused by financial hardships.

Akintunde Sawyerr, the Managing Director of NELFUND, noted that the program is designed to support human capital development and enable Nigerian students to complete tertiary education. The dashboard report indicates that 270 institutions have benefited from the program, with a recent increase in new applications recorded, representing a 0.1% rise compared to previous days.