The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of a total of ₦86.3 billion loan to 449,039 students since the scheme was launched on its portal on May 24, 2024.
According to the latest daily status report released on Monday, August 11, 2025, the scheme disbursed the loan as of August 6, 2025.
The Fund noted that “the scheme delivers on President Bola Tinubu’s Renewed Hope Agenda of empowering every Nigerian student through access to higher education funding.”
It said the disbursement included ₦47,629,338,384 paid directly to 218 institutions as tuition fees and ₦38,718,120,000 given to students as upkeep allowances.
The report further revealed that 731,140 students have registered on the loan portal, out of which 720,732 have successfully applied for loans — representing a 98% application success rate.
Data from the dashboard shows a daily increase of 933 in the number of successful registrants and an additional 1,094 successful applicants.
