The Nigerian Education Loan Fund (NELFUND) says a total sum of N73.1 billion has been disbursed to 366,247 students across 206 tertiary institutions in the Country between May 2024 and June 2025.
NELFUND stated this in its Student Loan Disbursement Dashboard, covering data up to June 28, 2025.
It reads, “NELFUND has disbursed N38.26 billion for institutional fees and N34.85 billion as upkeep allowance to student beneficiaries, bringing the total loan disbursed so far to N73,113,908,545.00,”
According to the report, 366,247 students have received loans, and 206 tertiary institutions have benefited since the portal was launched on May 24, 2024.
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A total of 647,269 students have registered on the NELFUND portal, with 611,018 having successfully applied for loans. This means 94% of all registrants have completed their loan application process.
A statement signed by Oseyemi Oluwatuyi, Director, Strategic Communications, Nigerian Education Loan Fund (NELFUND), noted that the milestone reflected the extensive scope and growing impact of the student loan programme in expanding access to higher education.
In its ongoing commitment to transparency and accountability, NELFUND has set up a Disbursement Oversight Committee comprising independent representatives from the following key institutions: The Federal Ministry of Education, The Central Bank of Nigeria (CBN), The Economic and Financial Crimes Commission (EFCC) and The Independent Corrupt Practices and Other Related Offences Commission (ICPC)
The Committee is tasked with monitoring disbursements to ensure integrity, equity, and effective utilisation of public funds in the implementation of the student loan scheme.
The Fund reaffirmed its dedication to upholding transparency and responsible governance in all its processes and remains committed to working closely with all stakeholders to ensure that eligible Nigerian students receive the support they need to pursue their academic goals.
