The Federal Government says more than 86.3 billion naira has so far been disbursed under the Nigerian Education Loan Fund (NELFUND) since its portal was launched in May 2024. The update, released on August 25, 2025, shows that 449,039 students have benefited from the scheme, with disbursements covering both institutional fees and upkeep allowances.
According to the report, 47.6 billion naira was paid directly to institutions for tuition, while 38.7 billion naira was given to students as upkeep support. So far, 218 institutions across the country have received payments, reflecting the nationwide reach of the initiative.
The scheme is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda and is aimed at ensuring that no Nigerian student is denied higher education due to financial difficulties. With over 760,000 successful applications processed, the administration says the policy is already transforming access to education and empowering the country’s youth.