The Nigerian Education Loan Fund (NELFUND) has disbursed a staggering ₦77,034,184,108.00 in student loans since the launch of its online portal on May 24, 2024. This milestone, announced in a dashboard report released at 8:25am on July 25, 2025, marks a major leap in the Federal Government’s efforts to increase access to higher education through the Renewed Hope Agenda.
According to the report, a total of 693,378 students have registered on the platform, out of which 674,688 have successfully applied for loans — representing an impressive 97% application success rate. So far, 396,252 students have benefitted from the loan scheme, reflecting the program’s fast-rising impact across the country.
In the latest 24-hour update, 2,256 new registrants were recorded, with 3,098 successful applicants added to the total. The portal has maintained a 137% increase in new registrants who successfully transitioned to loan applicants.
As of July 14, 2025, disbursements include:
• ₦41.7 billion paid directly to institutions for tuition fees
• ₦35.3 billion disbursed as upkeep allowances to students
• A total of ₦77.03 billion disbursed overall
Additionally, 210 institutions have received payments through the program, demonstrating wide-scale institutional engagement.
NELFUND Managing Director and CEO, Akintunde Sawyerr, emphasized the importance of the program in delivering one of the key promises of President Bola Ahmed Tinubu’s administration: “This initiative under the Renewed Hope Agenda is not just about student loans — it’s about empowering every Nigerian student with equal access to quality education.”
The report underlines NELFUND’s commitment to transparency and progress tracking as it continues to reshape Nigeria’s higher education landscape.
For more information, visit the official NELFUND portal or contact the media office of the Nigerian Education Loan Fund.
