The Nigerian Education Loan Fund has disbursed ₦140.9bn in student loans to beneficiaries since the launch of its application portal on May 24, 2024.
According to the Daily Status Report released on Sunday via its official X handle, NELFUND said it has received 1,193,228 applications, with 788,947 students benefiting from the scheme across 262 institutions.
As of November 12, 2025, the report indicated 35,773 new successful applications for the week and 3,367 approvals on that day alone, reflecting a 0.3% increase in new applications compared to the previous day.
NELFUND noted that it has paid ₦140,884,471,740 in tuition fees, comprising ₦88,947,000 as institutional fees and ₦53.7bn in upkeep allowances to support students during the academic year.
PUNCH Online earlier reported that the fund is working to extend the loan programme to vocational and skills acquisition training.
The Managing Director of NELFUND, Mr. Akintunde Sawyerr, confirmed this in an interview with the News Agency of Nigeria in Abuja, saying the extension aligns with the Federal Government’s broader agenda on education and skills development.
He said the move reflects President Bola Tinubu’s commitment to expanding access to human capital development beyond conventional university education.
According to Sawyerr, Nigeria’s next phase of development requires a healthy balance between academic qualifications and technical competence.
“At NELFUND, we have a mandate to also support vocational skills,” he said.
“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 added that the planned expansion would help more young Nigerians acquire employable skills and strengthen the country’s workforce.
