The Nigerian Education Loan Fund has disbursed ₦135.54 million to students across three tertiary institutions
The Nigerian Education Loan Fund (NELFUND) has disbursed ₦135.54 million to 1,298 students across three tertiary institutions, as the Federal Government’s student loan scheme recorded its highest number of applications in a single day.
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The Fund disclosed the payments on November 14, 2026, alongside an update showing that it received 8,397 student loan applications on November 13. The latest figure brings total applications since the scheme commenced to 2,470,176.
The disbursements covered students at the College of Education, Billiri, Gombe State; the African Aviation and Aerospace University, Abuja; and Niger Delta University.
Niger Delta University receives largest share of disbursement
Niger Delta University received the largest share of the latest payments, with NELFUND releasing ₦126.07 million to 1,125 beneficiaries.
The College of Education, Billiri, received ₦2.5 million for 163 students, while the African Aviation and Aerospace University received ₦6.97 million for 10 students.
Combined, the three payments amounted to ₦135.54 million, supporting 1,298 students across the institutions.
The disbursements form part of NELFUND’s efforts to provide financial support to eligible students and reduce the cost barriers associated with tertiary education.
NELFUND records 8,397 applications in one day
Beyond the latest payments, the Fund recorded 8,397 student loan applications on Friday, November 13, its highest daily total since the scheme began.
The new figure increased cumulative applications to 2,470,176, highlighting the scale of demand for financial assistance among students seeking access to higher education.
However, the number of applications should be distinguished from the number of approved loans or beneficiaries. Applications indicate interest in accessing the scheme but do not, on their own, establish how many applicants have completed the verification process or received funding.
Cumulative disbursements reach ₦375.28 billion
NELFUND's broader disbursement figures provide further context for the expansion of the programme.
As of October 29, 2026, the Fund had disbursed ₦375.28 billion to 1,675,474 beneficiaries across 320 tertiary institutions.
The total comprised ₦194.77 billion paid directly to beneficiary institutions for tuition and other institutional fees, while ₦180.51 billion went to students as upkeep allowances.
The figures show that the scheme has become a significant source of education financing, with payments covering both institutional charges and students' living expenses.
Nevertheless, the programme's growing scale also places greater demands on its payment and administrative systems. NELFUND has previously identified delays in upkeep payments and proposed changes to its tuition payment process to address administrative difficulties.
Growing demand puts pressure on education financing delivery
The latest application record points to sustained demand for financial support among Nigerian students. It also raises the importance of ensuring that the scheme can process applications, verify beneficiaries and deliver approved funds promptly.
For students and their families, the effectiveness of the programme will depend not only on the volume of applications received or the total amount disbursed, but also on whether funding reaches beneficiaries when they need it to meet academic expenses.
NELFUND's ability to maintain timely payments, improve coordination with tertiary institutions and address administrative bottlenecks will therefore remain central to the scheme's impact.
For Nigeria's wider development agenda, access to tertiary education financing can support human capital development by helping students continue their studies despite financial constraints. However, the long-term value of the programme will depend on effective implementation and its ability to translate growing application numbers into timely support for eligible students.
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