By Ayomide Otitoju
The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦86.3 billion to 449,039 students since launching its portal on May 24, 2024.
According to its latest daily status report released on Monday, August 11, 2025, the fund had completed disbursements as of August 6. The scheme, aligned with President Bola Tinubu’s Renewed Hope Agenda, aims to expand access to higher education funding for all eligible Nigerian students.
Of the total sum, ₦47.63 billion was paid directly to 218 institutions for tuition fees, while ₦38.72 billion went to students as upkeep allowances.
NELFUND data shows that 731,140 students have registered on the loan portal, with 720,732 completing applications — representing a 98% success rate. The dashboard records an average daily increase of 933 new registrants and 1,094 additional successful applicants.
