The Nigerian Education Loan Fund (NELFUND) has released an additional ₦21.71 billion in student loans over the past two months, bringing the programme’s total disbursement to ₦303.91 billion as of July 3, 2026.
According to the latest figures published by the fund, the number of beneficiaries increased from approximately 1.59 million on May 5 to more than 1.64 million by July 3, with an additional 48,755 students benefiting from the scheme during the period.
Institutional fee payments also recorded significant growth, rising by ₦6.15 billion from ₦183.91 billion to ₦190.06 billion. Meanwhile, upkeep allowances paid directly to students increased by ₦15.56 billion, reaching ₦113.85 billion.
The latest data indicates that a larger share of the new disbursements went toward students’ upkeep allowances, reflecting the fund’s continued effort to ease the financial burden on beneficiaries.
NELFUND was established by the Federal Government to provide interest-free loans to eligible students in tertiary institutions across Nigeria. The scheme covers tuition payments made directly to institutions as well as monthly upkeep support for qualified students.
As more institutions and students continue to join the programme, the fund says it remains committed to expanding access to higher education by removing financial barriers that prevent many Nigerians from completing their studies.
