NELFUND disburses over ₦206 billion in student loans to more than 1.16 million beneficiaries across Nigerian tertiary institutions.
The Nigerian Education Loan Fund (NELFUND) has disbursed more than ₦206 billion to students across public tertiary institutions as part of efforts to expand access to higher education.
According to the latest update from the Nigerian Education Loan Fund (NELFUND), a total of ₦206.29 billion has been released to 1,164,222 beneficiaries since the scheme was launched.
Data from NELFUND’s Daily Status Report as of March 9, 2026, shows that 1,734,985 students have applied for the loan programme since the application portal opened on May 24, 2024.
So far, 270 tertiary institutions across the country have benefited from the initiative.
The loan scheme is designed to support students in public institutions by covering tuition fees and basic living expenses, helping to reduce financial barriers to university education.
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A breakdown of the disbursement indicates that ₦128.84 billion has been paid directly to institutions as tuition fees on behalf of students, while ₦77.45 billion has been distributed to beneficiaries as upkeep allowances.
Together, the payments bring the total amount disbursed under the programme to ₦206.29 billion.
The report also noted continued interest in the scheme, with 1,910 new applications recorded compared to the previous day, representing a 0.1 percent increase.
The student loan programme was established by the Federal Government through the Student Loans Act to ensure that qualified Nigerians are not prevented from pursuing higher education because of financial challenges.
Under the initiative, students receive loans to cover tuition and living costs, with repayment expected after graduation once beneficiaries secure employment.
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