The Nigerian Education Loan Fund (NELFUND) has hit ₦242 billion in total disbursements.
This development was revealed in the Fund’s latest daily status report seen by NewsDirect.
According to the report, the fund has recorded 1,764,732 applications since the portal’s launch on May 24, 2024. To date, 1,388,592 students have benefited from the scheme across 288 institutions nationwide.
The financial breakdown of the total ₦242,400,915,093.25 includes ₦157,455,283,093.25 paid directly to schools and
₦84,945,632,000.00 paid to students for living expenses.
Similarly, the fund also disbursed ₦752,906,800 to the University of Delta for the 2025/2026 academic session supporting 3,707 student beneficiaries.