The Nigerian Education Loan Fund (NELFUND) has achieved significant milestones in its student loan disbursement scheme, revealing that 1,164,222 students have benefited from the program since the portal’s launch on May 24, 2024.
According to the Daily Status Report generated on March 23, 2026, the fund has successfully disbursed a total of ₦206,289,101,199.25.
The comprehensive breakdown of the disbursements, recorded as of March 3, 2026, indicates that ₦128,841,589,199.25 has been paid directly to 270 beneficiary institutions to cover tuition fees. Furthermore, ₦77,447,512,000.00 has been disbursed directly to students as upkeep allowances.
The report also highlights the massive volume of interest in the scheme, with 1,754,694 applications received from its inception.
While the percentage of new applications remained stable at a 0.0% change compared to the previous day, the dashboard still recorded 238 additional applications.
This initiative continues to serve as a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims to empower Nigerian students by significantly increasing access to higher education.