NELFUND Student Loans Hit N140bn

The Nigerian Education Loan Fund has announced that it has released more than N140 billion in student loans since the portal opened on May 24, 2024.

The update came through its daily report, which showed that over 1.1 million applications have been submitted and 788,947 students have already received support.

The latest data, recorded on November 12, 2025, showed 35,773 new successful applications for the week and 3,367 approved that day. This marked a slight rise in daily approvals as more students joined the scheme.

NELFUND confirmed that the money disbursed has gone to 262 institutions across the country. The breakdown includes tuition payments, institutional charges, and upkeep allowances to help students manage living expenses while studying.

The fund had earlier shared plans to expand the loan programme to cover vocational and skills training. This direction, according to its Managing Director, Akintunde Sawyerr, fits into the government’s broader push to develop both academic and technical talent.

He explained that Nigeria’s growth will depend on people who can combine university education with practical skills needed in different industries. The planned extension of the scheme is part of efforts to build a more inclusive pathway for young people seeking opportunities beyond traditional classrooms.

NELFUND said the expansion will begin once its systems are ready to support applicants in vocational fields.