The Nigerian Education Loan Fund (NELFUND) has disbursed N56.85 billion in student loans to 298,124 students across 198 institutions as part of its nationwide rollout of the student loan scheme.
This was disclosed in a status report released by NELFUND highlighting progress made since the loan portal was launched on May 24, 2024, till May 29, 2025.
As of May 23, 2025, the fund had paid a total of N30.17 billion directly to institutions for tuition and N26.67 billion to students as upkeep allowance, bringing the total disbursement to N56.85 billion.