The Nigerian Education Loan Fund (NELFUND) proudly announces a significant achievement in its mission to empower Nigerian youth through accessible higher education. Today, NELFUND reveals that it now supports 788,947 students across the nation via its student loan program. This milestone comes as the fund processes over 1,196,725 applications since the portal launched in May 2024
NELFUND actively disburses interest-free loans to cover tuition and upkeep for students in public tertiary institutions. So far, the fund has paid out N140,884,471,374 in total loans. This includes N82,346,711,374 for institutional fees across 262 institutions and N58,537,760,000 for upkeep allowances. Additionally these efforts reduce financial barriers and enable more young Nigerians to pursue their dreams.
Since launching, NELFUND has seen steady growth. For instance, applications increased by 3,497 in the last day alone, marking a 0.3% rise. Moreover the program began disbursements in February 2025 and quickly expanded. Now it supports students in fields from engineering to creative arts, ensuring uninterrupted education.
Akintunde Sawyerr, Managing Director of NELFUND, states, "This milestone reflects our commitment to President Bola Ahmed Tinubu's vision of renewed hope for every Nigerian student. We actively transform lives by removing financial hurdles." Furthermore, he adds, "Our team works tirelessly to process applications and disburse funds promptly."
Looking ahead, NELFUND plans to include more institutions and streamline processes. In the meantime, eligible students should apply through the portal at nelf.gov.ng. Consequently, this will help even more beneficiaries join the program.