The Nigerian Education Loan Fund (NELFUND) says a total of 449,039 students have benefited from its student loan scheme since the platform was launched on May 24, 2024.
According to the agency’s latest daily status report released on Monday, August 11, 2025, the scheme has so far disbursed ₦86,347,458,384 as of August 6, 2025.
Breakdown of the disbursement shows that ₦47,629,338,384 was paid directly to 218 higher institutions nationwide as tuition fees, while ₦38,718,120,000 was transferred to students as upkeep allowances.
The report also revealed that 731,140 students have registered on the loan portal, with 720,732 successfully applying — representing a 98% application success rate.
Daily statistics from the NELFUND dashboard indicate an average 933 new successful registrations and 1,094 additional successful applicants every day.
In a statement, NELFUND said the programme is a direct implementation of President Bola Tinubu’s Renewed Hope Agenda, aimed at ensuring that no Nigerian is denied higher education due to financial constraints.
The scheme, which covers tuition and living expenses for eligible students, has been described by education stakeholders as one of the country’s most ambitious efforts to expand access to tertiary education funding.
