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NELFUND Surpasses ₦206bn in Student Loan Disbursements to 1.16 Million Beneficiaries
The Nigerian Education Loan Fund has achieved a landmark milestone by providing ₦206.29 billion in financial support to 1,164,222 students since the inception of the program.
This data, pulled from the official NELFUND dashboard on March 9, 2026, highlights the massive scale of the initiative since its portal first opened in May 2024. Out of the 1,734,985 total applicants who have sought assistance, over 1.16 million have already received funds to cover both their academic tuition and personal monthly upkeep.
This disbursement represents a core pillar of the government’s mission to broaden access to higher education across Nigeria. The fund serves as a direct delivery of the Renewed Hope Agenda, focusing on empowering the youth by removing the financial barriers that often stall academic progress. By handling payments through a centralized digital portal, the fund maintains a transparent record of every naira sent to institutions and students alike.
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A closer look at the data shows that 270 institutions have been integrated into the scheme so far. The total expenditure is split between ₦128.84 billion paid directly to schools as tuition on behalf of their students and ₦77.45 billion distributed as living allowances to the beneficiaries. Together, these payments ensure that students can remain in the classroom without the distraction of unpaid fees or the struggle to afford basic necessities.
The program continues to experience rapid growth, with 1,910 new applications recorded in just the last twenty-four hours, marking a steady daily increase in submissions. While the scheme has seen immense success, it hasn’t been without logistical hurdles; earlier this year, a reconciliation exercise identified nearly ₦928 million in unpaid allowances owed to over 11,000 students from the previous academic session. However, the current momentum suggests that the fund is aggressively closing those gaps to fulfill its promise to Nigerian scholars.