The Nigerian Education Loan Fund (NELFUND) has reportedly disbursed N140.9 billion in student loans to beneficiaries since the launch of its application portal on May 24, 2024.
According to the Daily Status Report released on Sunday via NELFUND’s official X handle, the scheme has received 1,193,228 applications, with 788,947 students already benefiting from the programme. As of November 12, 2025, 35,773 new applications were successfully processed that week, including 3,367 on the day alone—representing a 0.3% increase in daily submissions.
The fund has paid a total of N140,884,471,740 to 262 institutions, covering tuition fees, with N88,947,000 allocated as institutional fees and N53,776,000,000 distributed as upkeep allowances.
NELFUND Managing Director, Akintunde Sawyerr, disclosed that the fund plans to expand its loan scheme to include vocational and skills acquisition programmes. Speaking with the News Agency of Nigeria in Abuja, Sawyerr said this initiative aligns with the Federal Government’s broader agenda for education and skills development.
He added that the expansion underscores President Bola Tinubu’s commitment to inclusive human capital development beyond traditional university education.
“At NELFUND, we have a mandate to also support vocational skills. We have not started yet, but the President Bola Tinubu administration has ensured that there is full coverage around the skills issue,” Sawyerr explained, emphasizing the importance of balancing academic and technical competencies for Nigeria’s next phase of development.
