The Nigerian Education Loan Fund has disbursed a total of ₦242.4 billion in student loans, benefiting more than 1.3 million Nigerian students, according to its Weekly Summary Report for April 6–12, 2026.

The report shows that within the review period, 3,944 new successful applications were recorded, bringing the total number of applications received to 1,768,445—an indication of the growing demand for student financial support across the country.

As of April 2, 2026, NELFUND confirmed that 288 institutions have benefited from the scheme, with ₦157.45 billion paid directly as institutional fees. In addition, ₦84.95 billion has been disbursed as upkeep allowances to 1,388,592 student beneficiaries nationwide.

The loan scheme, a key intervention under the administration of President Bola Ahmed Tinubu, is designed to reduce financial barriers to higher education and improve retention rates among students.

Observers note that the steady increase in applications and disbursements reflects both the scale of financial need in Nigeria’s education sector and the expanding reach of the program. The initiative is also aligned with the government’s broader agenda to enhance access to education and empower young Nigerians.

NELFUND reaffirmed its commitment to transparency and efficiency in loan disbursement, emphasizing that funds are paid directly to institutions for tuition and to students for upkeep, ensuring accountability and impact.