The Nigerian Education Loan Fund, NELFund, has released new figures detailing the uptake and financial performance of the student loan scheme.
According to data sheets shared via its social media handles on Sunday, the 30th of November, 2025, the agency confirmed receiving 1,193,228 applications since the portal was launched.
Out of this total, NELFund stated that “at least 788,947 students have so far benefited from the student loan scheme.”
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The financial reports indicate a total disbursement value of N140.88 billion. This figure comprises tuition and direct upkeep payments. The agency noted that “262 tertiary institutions had received payments totalling N82.34 billion for tuition fees as of November 12, 2025.” Furthermore, the agency explained that it has “also disbursed N58.53 billion as upkeep allowances directly to students.”
In a separate update covering the period of the 24th of November to 30th, NELFund highlighted ongoing activity, confirming that 35,773 applications were successfully completed within that week. The previous day also saw a high volume of new applications, with the report noting that “no fewer than 3,367 new applications were submitted the previous day.” The agency further reiterated that a total of “262 institutions and 788,947 students have benefited from both tuition and upkeep disbursements.”