The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦161.97 billion under the Nigeria Student Loan Scheme, according to its weekly report covering December 29, 2025, to January 4, 2026.
The report, shared on NELFUND’s official X account on Sunday, revealed that 17,507 new loan applications were received during the week, bringing the total number of successful applications since the scheme’s launch in May 2024 to 1,326,008.
As of December 29, 2025, a total of 864,798 students across 263 public tertiary institutions had received loan payments. Of the total amount disbursed, ₦89.94 billion was paid directly to institutions to cover tuition and other academic fees, while ₦72.03 billion was released to students as upkeep allowances.
NELFUND was established following the enactment of the Nigeria Student Loan Scheme into law by President Bola Ahmed Tinubu in April 2024. The scheme provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses, with a focus on supporting students from low-income backgrounds.
Beneficiaries are required to repay the loans after completing their education and securing employment, a model designed to ease financial barriers to higher education while ensuring the sustainability of the fund.
