The Nigerian Education Loan Fund has recorded another major milestone in its student loan programme, disbursing an additional ₦21.71 billion to beneficiaries within the last two months. The latest figures show that total disbursements under the scheme have now risen to ₦303.91 billion, reflecting the Federal Government’s continued commitment to expanding access to higher education through financial support.
According to the latest data released by NELFUND, the additional payments were made between May 5 and July 3, 2026, with the number of beneficiaries increasing by 48,755 during the period. This brings the total number of students who have benefited from the programme to approximately 1.64 million, compared to 1.59 million recorded two months earlier.
The report revealed that institutional fee payments rose from ₦183.91 billion to ₦190.06 billion, representing an increase of ₦6.15 billion. Meanwhile, upkeep allowances paid directly to students witnessed a more significant rise, climbing by ₦15.56 billion from ₦98.29 billion to ₦113.85 billion. The figures indicate that upkeep allowances accounted for the larger share of the latest disbursement, providing students with financial support for their day to day living expenses while pursuing their education...READ THE FULL ARTICLE HERE .
Established by the Federal Government, NELFUND was created to provide interest free loans to eligible students enrolled in tertiary institutions across Nigeria. Under the programme, tuition fees are paid directly to institutions while approved students receive upkeep allowances to ease the financial burden associated with higher education.
The steady increase in both the number of beneficiaries and the total amount disbursed highlights the continued expansion of the student loan initiative as more tertiary institutions and students come on board. The programme is expected to play a key role in reducing financial barriers to education and ensuring that more Nigerian students can complete their academic pursuits without being hindered by funding challenges.
