The Nigerian Education Loan Fund (NELFUND) has disbursed N161.97 billion to 864,798 students across Nigeria since launching its student loan portal, in a bid to expand access to tertiary education.

The Managing Director of NELFUND, Akintunde Sawyerr, announced this at a news conference in Abuja, highlighting the scheme as a key initiative under President Bola Tinubu’s Renewed Hope Agenda. He emphasized that the fund aims to ensure no Nigerian student is denied education due to financial constraints.

Out of the total disbursement:

• N89.94 billion was paid directly to 263 tertiary institutions to cover tuition and institutional fees.
• N72.03 billion was provided to students as upkeep allowances.

Sawyerr noted that the fund has received 1,361,011 loan applications, reflecting strong demand and engagement from students nationwide. He described the disbursement figures as tangible evidence of barriers being removed and opportunities being created for students and families.

He also revealed that NELFUND had conducted extensive sensitisation campaigns across tertiary institutions and will now expand outreach to parents, guardians, traditional leaders, and faith-based organizations to deepen public understanding and trust in the scheme.