Nigerian Education Loan Fund (NELFUND) has revealed that it disbursed N73.1 billion in student loans to 366,247 Nigerian students since the commencement of the programme in May 2024.
Gatekeepers News reports that NELFUND made the revelation in its Student Loan Disbursement Dashboard, covering data up to June 28, 2025.
As of June 28, 2025, NELFUND has disbursed N38.26 billion for institutional fees and N34.85 billion as upkeep allowance to student beneficiaries, bringing the total loan disbursed so far to N73,113,908,545.00.
The report stated that 366,247 students have received loans, and 206 tertiary institutions have benefited since the portal was launched on May 24, 2024.
A total of 647,269 students have registered on the NELFUND portal, with 611,018 having successfully applied for loans, representing a 94% completion rate.
Compared to the previous day (June 27), the number of registered students increased by 1,316, and successful applicants rose by 1,387.
The report further noted that 105% of new registrants managed to successfully submit their loan applications, underscoring the system’s responsiveness and efficiency.
