The Nigerian Education Loan Fund (NELFUND) says it has disbursed ₦140.9 billion in student loans since the scheme’s portal opened on May 24, 2024.
In a Daily Status Report shared on Sunday via its official X handle, NELFUND revealed that it has received 1,193,228 applications so far, with 788,947 students already benefiting from the programme.
As of November 12, 2025, the report recorded 35,773 new successful applications for the week and 3,367 on that particular day—showing a 0.3% increase from the previous day’s figure.
NELFUND noted that it has paid ₦140,884,471,740 to 262 institutions, covering tuition fees, ₦88,947,000 in institutional charges, and ₦53.7 billion in upkeep allowances for students.
PUNCH Online earlier reported that the fund plans to expand the loan scheme to include vocational and skills acquisition programmes.
The Managing Director of NELFUND, Akintunde Sawyerr, confirmed this in an interview with the News Agency of Nigeria in Abuja. He said the expansion supports the Federal Government’s broader vision for education and skills development.
Sawyerr added that the move reflects President Bola Tinubu’s commitment to inclusive human capital growth, reaching beyond conventional university education.
According to him, Nigeria’s next stage of development will require a stronger blend of academic knowledge and technical skills.
“At NELFUND, we also have a mandate to support vocational skills,” he said. “We haven’t started yet, but the President Bola Tinubu administration has ensured full coverage for skills development.”
