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Fueling futures across Nigeria, the Nigerian Education Loan Fund (NELFUND) has disbursed ₦73.1 billion in student loans to over 366,000 students since its inception in May 2024. This significant milestone, revealed in NELFUND’s Student Loan Disbursement Dashboard, underscores a commitment to educational access.

  • NELFUND disbursed ₦73.1 billion in student loans to date.
  • A total of 366,247 students have received these loans.
  • Funds cover institutional fees (₦38.26B) and upkeep allowance (₦34.85B).
  • Over 611,000 students successfully applied out of 647,000 registrants.
  • NELFUND plans to extend loans to vocational and skills-acquisition centers soon.
  • The agency clarified that previous ICPC probes related to older financing programs.
  • NELFUND mandates its Student Loan Access System (SLAS) for enhanced transparency.
NELFUND’s rapid disbursement and expansion plans highlight Nigeria's commitment to empowering its youth through education. These efforts are truly fueling futures across the nation.


Sources: NELFUND Student Loan Disbursement Dashboard, Nairametrics