WorldStage– The Nigerian Education Loan Fund (NELFUND) confirms it has disbursed ₦242.4 billion to 1,388,592 students, marking a major milestone in its student support initiative since the portal’s launch on 24 May 2024.
The scheme is part of the Federal Government’s Renewed Hope Agenda, designed to remove financial barriers to higher education
According to NELFUND the initiative includes ₦157.4 billion for institutional fees and ₦84.9 billion for upkeep.
To this effect, it has reached a major milestone in its student support intervention programme, with the huge total of students benefiting from the education loan scheme as of 15 April 2026.
The cumulative disbursement has now reached N242.4 billion since the initiative became fully operational with the launch of its application portal on 24 May 2024.
These figures, according to the latest Student Loan Disbursement Status, covers activities from the launch of the scheme on 24 May 2024 to 15 April 2026.
The report showed the rapid scale-up of the scheme which is designed to improve access to tertiary education funding, reduce financial barriers, and strengthen human capital development under the Federal Government’s Renewed Hope Agenda.
Over 1.7 million applications have been recorded for students across higher educational institutions in the country, benefitting from loans to boost their access to education.
The NELFUND application portal is used for managing the loan process, which has seen rapid expansion for applicants.
