The Nigerian Education Loan Fund has disbursed more than ₦206 billion to students across 270 institutions nationwide within 23 months of its launch.
Since the portal opened in May 2024, NELFUND has received 1,751,669 applications, with 1,164,222 students benefiting from the scheme.
The total disbursement are as follows:
- ₦128.84 billion went directly to institutions for tuition fees.
- ₦77.45 billion was released to students as upkeep allowances.
Speaking on the programme, NELFUND Managing Director Akintunde Sawyerr assured that no eligible student will be barred from examinations due to financial challenges. He highlighted that the scheme is designed to cover both tuition and living expenses, making higher education more accessible to underprivileged students.
The Fund also reported 969 new applications in its latest update, marking a 0.1% increase and indicating sustained public interest and confidence in the programme.
