The Nigerian Education Loan Fund (NELFUND) has reported a cumulative loan disbursement of ₦372.62 billion, benefiting students across 319 institutions, according to its Daily Student Loan Disbursement Dashboard generated on Friday, October 30, 2026.
The dashboard, generated at 8:38 a.m., shows that the Fund has received 2,330,263 applications since the launch of its student loan portal on May 24, 2024. It also recorded 7,985 new applications on Thursday, October 29, 2026.
The disbursement summary, with figures stated as at September 29, 2026, indicates that ₦192.89 billion has been paid to 319 beneficiary institutions as institutional fees, while ₦179.73 billion has been disbursed as upkeep allowances to 1,659,853 student beneficiaries.
This brings the total cumulative disbursement to ₦372,620,919,439.25, representing the combined institutional fee payments and student upkeep support.
The figures highlight the expanding reach of the Federal Government’s student loan initiative under President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at improving access to higher education by helping eligible students overcome financial barriers to pursuing their academic ambitions.
As more applications are received and disbursements reach participating institutions and qualified students, NELFUND continues to play a significant role in supporting educational access and student welfare across Nigeria.
NELFUND: Increasing access to higher education.
By Ogene Romanus Chizoba
_FOUNTAINCARE MEDIA_