NELFUND Disburses ₦86bn as 449,000 Students Benefit from Tinubu’s Loan Scheme
The Nigerian Education Loan Fund (NELFUND) has released new figures highlighting the growing impact of President Bola Ahmed Tinubu’s student loan programme, showing that more than ₦86 billion has so far been disbursed to Nigerian students across tertiary institutions.
According to the Daily Status Report generated on Monday, September 1, 2025, a total of 775,976 students have registered on the student loan portal since its launch on May 24, 2024. Of this number, 778,162 applications have been processed, with 449,039 students successfully benefiting from the scheme.
The report further revealed that disbursements have been made in two major categories: institutional fees and upkeep allowances. A total of ₦47.6 billion has been paid directly to 218 higher institutions to cover tuition and related charges, while another ₦38.7 billion has been disbursed to students as direct upkeep allowances, bringing the cumulative disbursement to ₦86.3 billion.
Officials noted that the portal has maintained a 100 percent application success rate, ensuring that all registered students were able to complete their applications.
Daily figures from the previous day also showed an additional 1,266 successful new registrations and 1,599 new successful applicants, underscoring the steady rise in uptake.
The student loan scheme, one of the flagship policies under the President’s Renewed Hope Agenda, was designed to expand access to higher education by eliminating financial obstacles that often prevent Nigerian youths from completing their studies.
Since its rollout, the initiative has been praised for its transparency and its ability to track disbursements in real time.
In its summary, NELFUND emphasised that the programme represents a fulfilment of the President’s campaign promise to democratise access to education and empower Nigerian youths through financial support for tuition and living costs.
The development comes amid growing demands for more inclusive social investment policies to address challenges in the education sector, with stakeholders calling for sustained funding and broader coverage as the scheme expands in its second year.
