LunagisthubNELFUND: Enhancing Educational Opportunities for Nigerian Students via Loan Program
The Nigerian Education Loan Fund (NELFUND) is making great progress in helping students access higher education. As of August 11, 2025, the Fund has disbursed approximately ₦86 billion to 449,039 students nationally .
₦86,347,458,384
₦47,629,338,384 paid directly to 218 tertiary institutions.
₦38,718,120,000 provided for students’ daily living expenses.
98% of registered applicants have successfully submitted loan applications.
The NELFUND scheme continues to show steady growth of:
933 new successful registrations: and 1,094 approved applications every day.
Students have registered:731,140 on the loan portal since its launch in May 2024.
– 720,732 successful applicants which is a very high approval rate.
The Managing Director of NELFUND, Office of the Managing Director, Akintunde Sawyerr, gave a brief insight on the timelines provided to applicants claiming the set benchmarks. Sawyerr noted that the loan processing turnaround is between 30 and 45 days for applicants who fulfill all set criteria. The loan application entails a check with the applicant’s school for the name, course, and fees on record.
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