The Nigerian Education Loan Fund has announced that over N140.9bn has now been released to students under its loan scheme since the application portal went live on May 24, 2024.
Fresh figures published on Sunday in the agency’s Daily Status Report showed that NELFUND has recorded 1,193,228 applications so far, with 788,947 students already benefiting from the initiative.
Latest data as of November 12, 2025, indicated 35,773 newly approved applications for the week, while 3,367 applicants scaled through on that particular day. The update also reflected a 0.3 per cent rise in daily submissions compared to the previous day.
The fund confirmed that a total of N140,884,471,740 has been paid directly to 262 tertiary institutions nationwide. The breakdown includes N88,947,000 released as institutional charges and N53,776,000,000 disbursed as upkeep allowances for students.
Earlier reports stated that NELFUND is working toward expanding its loan coverage to vocational and skills acquisition programmes. The Managing Director, Akintunde Sawyerr, explained in an interview with the News Agency of Nigeria that the plan aligns with the Federal Government’s education and skills development priorities.
Sawyerr noted that President Bola Tinubu’s administration is focused on building an inclusive human capital base that goes beyond the traditional university system.
He stressed that the country’s development trajectory requires a blend of academic training and technical capability.
“At NELFUND, we have a mandate to also support vocational skills. We have not started yet, but I know that the President Bola Tinubu administration has ensured that there is full coverage around the skills issue,” he said.
