The Nigerian Education Loan Fund (NELFUND) has reported substantial progress in its student loan programme, disbursing over N116.4 billion to beneficiaries since the launch of its application portal on May 24, 2024.
According to the Daily Status Report shared on Tuesday, October 28, 2025, via NELFUND’s official X handle, the fund has received 929,805 applications, of which 624,535 students have successfully benefited from the scheme.
The report noted that 12,398 new applications were approved, representing a 1.4% increase from the previous day. As of October 9, 2025, NELFUND had paid ₦65.3 billion directly to 239 institutions to cover tuition fees, while ₦51.1 billion was disbursed as upkeep allowances to students, bringing the total disbursement to ₦116.4 billion.
The fund also recently opened its application portal for the 2025/2026 academic session.
In a statement, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, said the application window would run from Thursday, October 23, 2025, to Saturday, January 31, 2026.
Fresh students are advised to apply using their Admission Number or JAMB Registration Number in place of a matriculation number.
NELFUND was established to implement the Nigeria Student Loan Scheme, signed into law by President Bola Tinubu in April 2024. The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses, aiming to remove financial barriers to higher education and support students from low-income families.
Beneficiaries are expected to repay the loans after completing their studies and securing employment, ensuring the sustainability of the programme for future students
