NELFUND
Picnews
The Nigerian Education Loan Fund (NELFUND) has disbursed over ₦116.4 billion to more than 624,000 beneficiaries since the launch of its application portal on May 24, 2024. A total of ₦65.3 billion has been paid directly to 239 institutions as tuition fees, while ₦51.1 billion has been disbursed as upkeep allowances to students.
The fund has received 929,805 applications, with 624,535 students benefiting from the scheme so far, including 12,398 new successful applications recorded, representing a 1.4% increase from the previous day.
NELFUND was established to implement the Nigeria Student Loan Scheme, signed into law by President Bola Tinubu in April 2024, providing interest-free loans to students in public tertiary institutions to cover tuition and living expenses. Beneficiaries are expected to repay the loans after completing their studies and securing employment, ensuring the programme’s sustainability.
The application portal for the 2025/2026 academic session is open from October 23, 2025, to January 31, 2026, and fresh students are advised to apply using their Admission Number or JAMB Registration Number.
