The Nigerian Education Loan Fund (NELFUND) has disbursed an additional ₦21.71 billion to beneficiaries over the past two months, bringing total payments under the Federal Government’s student loan programme to ₦303.91 billion.
According to the latest NELFUND figures, the number of beneficiaries increased by 48,755 between May 5 and July 3, 2026, rising from 1.59 million to 1.64 million students.
Institutional fee payments grew by ₦6.15 billion during the period, increasing from ₦183.91 billion to ₦190.06 billion. Disbursements for students’ upkeep allowances also rose significantly, climbing by ₦15.56 billion from ₦98.29 billion in May to ₦113.85 billion as of July 3.Overall, total disbursements under the scheme increased from ₦282.20 billion to ₦303.91 billion, reflecting an additional ₦21.71 billion released within two months.
The latest data shows that upkeep allowances accounted for the larger share of the new disbursements, representing more than two-thirds of the total amount released during the review period.
NELFUND was established by the Federal Government to provide interest-free loans to eligible students in tertiary institutions, covering tuition fees paid directly to schools as well as upkeep allowances for beneficiaries.
The fund said it continues to expand its reach as more students and tertiary institutions participate in the programme, which aims to improve access to higher education by reducing financial barriers.
