NELFUND Disburses N183.8bn, Receives 1.69m Applications

The Nigerian Education Loan Fund (NELFUND) has recorded 1,696,316 applications since its launch on May 24, 2024, according to the latest daily status report shared via its official X account. As of now, 983,706 students have benefited from the fund, with applications continuing to rise, reflecting an increase of 0.8 percent from the previous day, translating to an additional 12,776 submissions.

NELFUND has confirmed that a total of N183,885,809,491 has been disbursed, including N107,086,869,491 paid directly to 265 beneficiary institutions for fees and N76,798,940,000 for student upkeep allowances. The application portal will close on February 27, 2026, and students are urged to complete their submissions before this deadline.

NELFUND's Managing Director and Chief Executive Officer, Akintunde Sawyerr, emphasized the fund's commitment to broad access and inclusivity in higher education financing. The fund aims to provide interest-free loans to students in public tertiary institutions, covering tuition and living expenses, with applications opening in May 2024.