- The fund noted that a total of N140,884,471,740 has already been paid directly to 262 institutions
- NELFUND also reaffirmed plans to broaden the scope of the loan scheme
- Nigeria’s next phase of growth depends on a balanced workforce equipped with both academic qualifications
The Nigerian Education Loan Fund (NELFUND) has confirmed a major milestone in the rollout of its student loan scheme, announcing that it has disbursed N140.9 billion to beneficiaries since the portal opened on May 24, 2024.
Eko Hot Blog reports that the latest Daily Status Report released on Sunday via the agency’s official X handle shows that 1,193,228 applications have been received so far, with 788,947 students successfully benefiting from the programme across various tertiary institutions.
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As of November 12, 2025, the update indicates 35,773 new successful applications recorded within the week, while 3,367 beneficiaries were cleared in a single day, reflecting a 0.3% increase from the previous day’s tally.
The fund noted that a total of N140,884,471,740 has already been paid directly to 262 institutions, covering tuition fees, institutional charges, and upkeep allowances. This includes N88,947,000 in institutional fees and N53.7 billion disbursed as upkeep support for students.
NELFUND also reaffirmed plans to broaden the scope of the loan scheme to include vocational and skills acquisition programmes, expanding access beyond traditional university education.
Managing Director of NELFUND, Akintunde Sawyerr, said the extension aligns with the Federal Government’s push for a more inclusive education system that supports academic, technical, and vocational training.
He explained that President Bola Tinubu’s administration is focused on strengthening human capital development to meet Nigeria’s evolving economic demands.
According to him, Nigeria’s next phase of growth depends on a balanced workforce equipped with both academic qualifications and practical, employable skills.
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