The Nigerian Education Loan Fund (NELFUND) has marked a remarkable achievement, distributing a staggering N116.4 billion in interest-free loans to aspiring students since its application portal debuted on May 24, 2024.
This groundbreaking program, championed by President Bola Tinubu’s administration, is designed to shatter financial barriers, empowering young Nigerians to pursue higher education without the crushing burden of debt.
According to the latest Daily Status Report posted on NELFUND’s official X account on October 28, 2025, the initiative has processed an impressive 929,805 applications, approving 624,535 for immediate support.
The report highlighted a fresh surge, with 12,398 new approvals on the previous day, a 1.4% rise from the prior tally, demonstrating the program’s growing reach and the relentless demand for accessible learning opportunities.
Breakdown of Funding Streams
Delving deeper into the figures, NELFUND revealed that as of October 9, 2025, it had channeled N65.3 billion directly to 239 institutions to cover tuition fees, ensuring seamless academic continuity for thousands.
Complementing this, N51.1 billion in upkeep allowances reached students’ pockets, addressing daily living costs like meals, books, and transport.
This dual approach not only eases immediate pressures but also fosters long-term financial stability, allowing learners to focus on studies rather than survival.
The scheme’s structure is as simple as it is revolutionary: interest-free loans for tuition and maintenance, repayable only after graduation and employment.
This forward-thinking model, enacted into law in April 2024, targets public tertiary institutions, prioritizing those from underprivileged backgrounds. By democratizing access to universities, polytechnics, and colleges, NELFUND is igniting a wave of potential across Nigeria’s vibrant youth demographic.
New Portal Ushers in 2025/2026 Cycle
Excitement builds as NELFUND swings open its doors for the 2025/2026 academic session. The application portal activated on Thursday, October 23, 2025, and stays live until Saturday, January 31, 2026, capturing the full admission cycle for eager newcomers.
Director of Strategic Communications Oseyemi Oluwatuyi detailed in a Tuesday statement that fresh students can apply using their Admission Number or JAMB Registration Number in lieu of a matriculation ID, making the process smoother for first-timers.
This extended window accommodates varying institutional timelines, ensuring no aspiring scholar misses out due to bureaucratic snags. NELFUND urges institutions to upload verified student records promptly, enabling quick verifications and disbursements.
For those from the previous cycle, unverified applications auto-cancel after October 8, prompting a fresh start under the new portal a clean slate for renewed dreams.
A Vision for Inclusive Education
NELFUND embodies the Renewed Hope Agenda’s core promise: education as a right, not a privilege. By tackling financial exclusion head-on, it’s not just funding degrees it’s fueling innovation, entrepreneurship, and national progress.
Over half a million beneficiaries already testify to its impact, with stories of first-generation graduates emerging from humble homes to boardrooms and labs.
As applications climb toward the million mark, the fund’s success underscores a simple truth: when barriers fall, potential soars. For countless Nigerian youth eyeing diplomas in engineering, medicine, or tech, NELFUND isn’t aid, it’s a launchpad.
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