Abuja, Jan. 13, 2026 – The Nigerian Education Loan Fund (NELfund) has disbursed N161.97 billion in loans to 864,798 students across the country since the launch of its student loan portal.
Akintunde Sawyerr, its Managing Director, disclosed this at a press conference in Abuja on Tuesday.
He said that out of the N161.97 billion loan disbursed, N89.94 billion was paid directly to 263 tertiary institutions to cover tuition and institutional charges, while N72.03 billion was paid to students as upkeep allowances.
“As of today. 1,361,011 applications have been received, 864,798 students have so far benefited from the loan scheme, and a total disbursement stands at N161.97 billion.
“These include N89.94 billion paid directly to 263 tertiary institutions for tuition and institutional fees, and N72.03 billion paid directly to students as upkeep allowances,” he said.
He said the figures represented tangible impact on students and families, describing them as evidence of barriers being removed and opportunities being created.
The NELFUND boss said the agency had, over the past year, embarked on extensive sensitisation across tertiary institutions to improve awareness and access to the scheme.
He said the fund had so far received 1,361,011 loan applications from students across the country.
Sawyerr said the fund was increasing its sensitsation awareness to deepen public understanding and trust in the scheme.
“Over the last year, NELFUND has also undertaken extensive sensitisation and engagement across tertiary institutions nationwide.
“We have worked directly with students, school authorities, and stakeholders to drive awareness, understanding, and access to the scheme.
“However, as we move into this new phase, we recognise that deepening impact requires broader engagement. This year, our focus will expand to another very important group within the NELFUND ecosystem,” he said.
The NELfund managing director said a reconciliation exercise carried out after the 2024/2025 academic session revealed that 11,685 students had outstanding upkeep payments amounting to N927.98 million.
He said the outstanding payments resulted from technical and operational issues such as network downtime, failed transactions and unvalidated bank account details.
