NELFUND DISBURSES N183.8 BILLION FOLLOWING 1.69 MILLION APPLICATIONS
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By: Fasasi Hammad
As the Nigerian Education Loan Fund (NELFUND) portal closes today, Friday, the scheme has recorded a total of 1,696,316 applications from students nationwide since its launch on May 24, 2024.
According to the Fund’s latest Daily Status Report on its official X account, 983,706 students have already benefited from the programme. Applications continued to rise up to the final day, showing a 0.8% increase from the previous day, equivalent to 12,776 new submissions.
On disbursements, NELFUND confirmed that ₦107,086,869,491 has been paid directly to 265 beneficiary institutions to cover tuition, while ₦76,798,940,000 has been released to students as upkeep allowances.
In total, ₦183,885,809,491 has been disbursed under the scheme as of February 1, 2026.
Earlier, on February 25, NELFUND had announced via its X account that the student portal would close on February 27, urging prospective applicants to complete submissions before the deadline. The notice added that institutions yet to commence the 2025 academic session could request an extension along with their approved academic calendar for consideration.
The deadline for the 2025/2026 academic session had been extended from January 31 to February 27 to allow students more time to apply.
NELFUND Managing Director and CEO, Akintunde Sawyerr, said the extension demonstrates the Fund’s commitment to inclusivity and broad access. “This decision ensures that every eligible Nigerian student has a fair opportunity to benefit from the Fund,” he stated, urging applicants to submit all required information before the portal closes.
NELFUND was established to administer the Nigeria Student Loan Scheme, enacted into law by President Bola Ahmed Tinubu in April 2024. The initiative offers interest-free loans to students in public tertiary institutions to cover tuition and living expenses, with repayment required only after graduation and employment.
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