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Nigerian students get disbursement of N45.1bn loan in 10 months — NELFUND

Published on March 26, 2025 at 08:57 PM

The Nigerian Education Loan Fund, NELFUND announced that it has disbursed a total of N45.1 billion in student loans across the country from its inception in May 2024 to 25th March 2025.

NELFUND disclosed in the latest Student Loan Dashboard Update report as of March 26, 2025, released on its X account on Wednesday.

The report showed that a total of 525,936 students have registered on the loan platform, with 445,015 applicants successfully applying for financial assistance. This represents an 84 percent success rate for student loan applications under the scheme.

It noted that of N147.9 billion in funds approval, the actual disbursement as of March 25, 2025, stood at N45.1 billion.

A further breakdown of student loan disbursement so far indicates that N29.86 billion had been released for institutional fees, while N15.23 billion was disbursed as upkeep allowances.

In addition to funds disbursed, NELFUND on Wednesday announced that N844,000 million has been successfully released to eight students of Kebbi State College of Nursing Sciences, Birnin Kebbi, on March 11, 2025.

“This marks another step towards ensuring that students have the financial support they need to pursue their education,” NELFUND said in a statement on X.