NELFUND Weekly Update, Sept 14: ₦92.8bn Disbursed, Over 700,000 Students Registered
The Nigerian Education Loan Fund (NELFUND) has continued to expand its impact, with fresh data showing that more than ₦92.8 billion has been disbursed to students and institutions across the country.
According to the Weekly Summary Report covering 8th to 14th September 2025, an additional 10,581 students registered on the NELFUND portal, pushing the total number of registered students to 796,674. Within the same period, 13,198 students successfully applied for loans, bringing overall loan applications to 811,310 since the scheme’s launch.
Loan Disbursement Breakdown
The report, which captures disbursements as of 21st August 2025, shows that:
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₦51.14 billion was paid directly to 225 beneficiary institutions to cover tuition and related fees.
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₦41.73 billion in upkeep allowances was transferred to 482,342 students, providing direct support for living expenses.
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Total disbursement to date stands at ₦92,871,242,785.00.
The upkeep allowance has been widely praised as a timely intervention, helping students cope with rising costs of living while pursuing their studies.
Expanding Access to Higher Education
The rapid uptake of the loan programme underscores its importance to Nigerian students. In less than a year, nearly 800,000 students have registered, making NELFUND one of the fastest-growing education support schemes in the country’s history.
The initiative, a flagship project under President Bola Ahmed Tinubu’s Renewed Hope Agenda, aims to remove financial barriers to tertiary education while easing the burden on families. It is designed not only to cover tuition but also to provide allowances that ensure students can focus on academics rather than survival.
Stakeholders have commended the programme for addressing longstanding funding gaps in the education sector. They also emphasise the importance of accountability and sustainability to ensure the fund continues to serve future generations.
With applications steadily rising, observers predict that NELFUND could cross the one-million applicant mark before the end of 2025. This momentum, they say, reflects both the depth of Nigeria’s demand for higher education and the critical role of student loan schemes in driving national development.
