Massive Relief: Nigerian Students Get Over ₦160bn Support from NELFUND
The landscape of higher education in Nigeria is undergoing a radical transformation as the federal government confirms that the total ₦160bn Support from NELFUND has been successfully disbursed to beneficiaries across the federation.
According to the latest status report released by the Nigerian Education Loan Fund on January 6, 2026, the cumulative disbursement has hit a staggering ₦161.97 billion, providing a critical lifeline to over 864,000 undergraduates. This milestone reflects the intensifying efforts of the President Bola Ahmed Tinubu administration to ensure that no Nigerian student is forced to drop out of school due to financial incapacity.
A detailed breakdown of the ₦161.97 billion reveals a strategic dual-funding model designed to cover every aspect of a student’s academic journey. Approximately ₦89.94 billion was paid directly to 263 public tertiary institutions to cover tuition and institutional fees, effectively clearing the debt of hundreds of thousands of students. Simultaneously, ₦72.03 billion has been released directly into the personal bank accounts of students as monthly upkeep allowances. This comprehensive approach addresses the two biggest hurdles for indigent students, the high cost of registration and the daily struggle for survival while on campus.
The surge in participation is evident in the numbers, as NELFUND recorded over 1.33 million applications from its inception in May 2024 up to early 2026. The Managing Director of NELFUND, Akintunde Sawyerr, noted that the fund is currently processing thousands of new applications daily, with over 4,400 recorded in the first week of January alone.
To qualify for this interest-free loan, students are required to provide their Joint Admissions and Matriculation Board registration number, National Identification Number, and Bank Verification Number. The system is designed to be merit-based and transparent, excluding those with histories of criminal convictions or loan defaults, while remaining open to both fresh and returning full-time students.
As the 2025/2026 academic session progresses, NELFUND has reaffirmed its commitment to expanding the scheme to vocational and technical colleges, ensuring that skill acquisition is as funded as traditional degrees. The agency continues to urge institutions to be flexible with registration deadlines for students whose applications are still being processed.
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For many Nigerian youth, this ₦160bn milestone is not just a statistic, it is the difference between a stalled future and a completed degree, marking a significant victory for educational equity in the country.