Ogene Romanus Chizoba
The Nigerian Education Loan Fund (NELFUND) has reported a cumulative disbursement of ₦372.62 billion under its student loan scheme, with total upkeep allowances paid to students rising to ₦179.73 billion as of September 29, 2026.
According to the Fund’s latest Student Loan Disbursement Report, generated on October 3, 2026, NELFUND has processed 1,659,853 applications since the launch of its Student Loan Portal on May 24, 2024.
The report shows that ₦192.89 billion has been disbursed to 319 beneficiary institutions for institutional fees, while ₦179.73 billion has been paid directly to students as upkeep allowances.
The combined disbursement of ₦372,620,919,439.25 represents NELFUND’s cumulative intervention through institutional fee payments and direct student support.
The latest figures further highlight the scale of the student-loan initiative introduced by the administration of President Bola Ahmed Tinubu as part of the Renewed Hope Agenda. The initiative has provided a structured financing mechanism aimed at helping students overcome financial barriers to tertiary education.
The development also reflects President Tinubu’s emphasis on expanding opportunities for young Nigerians through education and human-capital development. By establishing and backing the NELFUND framework, the administration has placed student financing at the centre of its efforts to make higher education more accessible.
While the programme continues to expand, the latest disbursement figures provide another indication of the administration’s continued investment in supporting Nigerian students and widening access to tertiary education.
