NELFUND Disburses N73.1 Billion to 366,247 Students Since Inception

BY admin
June 29, 2025
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The Nigerian Education Loan Fund (NELFUND) has allocated N73.1 billion in student loans to 366,247 Nigerian scholars since the program’s inception in May 2024.

By June 28, 2025, NELFUND has distributed N38.26 billion for institutional fees and N34.85 billion as maintenance allowances to student beneficiaries, culminating in a total loan disbursement amounting to N73,113,908,545.00.

According to the report, 366,247 students have availed themselves of loans, and 206 tertiary institutions have reaped benefits since the portal’s launch on May 24, 2024.

About 647,269 students have enrolled on the NELFUND portal, with 611,018 having successfully applied for loans, signifying that 94% of all registrants have completed their loan application process.

From the preceding day, June 27, the number of successful registrants increased by 1,316, while successful applicants expanded by 1,387.

The report indicated that 105% of new registrants successfully submitted loan applications, reflecting an efficient and responsive loan processing system.