The Nigerian Education Loan Fund (NELFUND) has announced that more than N140.9 billion has been disbursed to students under its loan scheme since the application portal opened on 24 May 2024.
According to fresh figures released on Sunday in the agency’s Daily Status Report, NELFUND has received 1,193,228 applications to date, with 788,947 students already benefiting from the program.
Latest data as of 12 November 2025 indicate that 35,773 new applications were approved within the week, while 3,367 applicants were cleared on that particular day.
The update also recorded a 0.3 per cent increase in daily submissions compared to the previous day.
The agency confirmed that a total of N140,884,471,740 has been paid directly to 262 tertiary institutions across the country.
This includes N88,947,000 released as institutional charges and N53,776,000,000 disbursed as upkeep allowances to students.
Earlier reports indicate that NELFUND is working to expand its loan support to cover vocational and skills acquisition programmes.
Speaking with the News Agency of Nigeria, the Managing Director, Akintunde Sawyerr, said the plan aligns with the Federal Government’s priorities in education and skills development.
He noted that President Bola Tinubu’s administration aims to build an inclusive human capital system that extends beyond traditional university pathways.
Sawyerr emphasised that Nigeria’s development requires a mix of academic and technical competencies.
“At NELFUND, we have a mandate to also support vocational skills. We have not started yet, but I know that the President Bola Tinubu administration has ensured full coverage around the skills issue,” he said.
