The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦206.29 billion in student loans to more than 1.16 million Nigerian students since the programme was launched in May 2024.
According to NELFUND’s Daily Status Report released on March 9, 2026, the fund said the loan scheme continues to expand access to higher education by supporting students across public tertiary institutions in the country.
The report shows that tuition payments have been made directly to 270 institutions on behalf of students, while beneficiaries have also received upkeep allowances to support their living expenses while studying.
NELFUND stated that the disbursement structure ensures that students are supported both academically and financially during their studies.
“Since the launch of the portal on May 24, 2024, the fund has successfully disbursed ₦206.29 billion to support Nigerian students pursuing higher education,” the report stated.
A breakdown of the figures indicates that ₦128.84 billion has been paid directly to tertiary institutions as tuition fees for approved beneficiaries.
In addition, ₦77.45 billion has been released as upkeep allowances for students to help cover daily living costs such as accommodation, feeding, and other personal expenses.
The report further noted that the combined payments bring the total disbursement under the student loan programme to ₦206.29 billion so far.
NELFUND emphasised that the loan scheme was created to remove financial barriers that often prevent qualified students from accessing higher education in Nigeria.
“The programme was designed to ensure that no qualified Nigerian student is denied access to university education due to financial constraints,” the fund said.
Students who benefit from the loan are expected to begin repayment after graduation once they secure employment.
