The All Progressives Congress Presidential Campaign Council (APC PCC) says the Nigerian Education Loan Fund (NELFUND) has disbursed ₦372.62 billion across 319 tertiary institutions and processed 1,659,853 student loan applications. The figures cover institutional fees and upkeep allowances, but the number of applications processed should not be read as the number of unique students who received loans.
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Key Highlights
- NELFUND’s reported cumulative disbursement is ₦372.62 billion across 319 tertiary institutions.
- Institutional tuition and fees account for ₦192.89 billion.
- Students’ upkeep allowances account for ₦179.73 billion.
- The APC PCC says 1,659,853 loan applications have been processed.
- Applications processed, approvals and completed disbursements are different measures.
NELFUND Disbursement Breakdown
The total reported disbursement comprises ₦192.89 billion paid for institutional tuition and fees and ₦179.73 billion provided as upkeep allowances. Together, the two categories make up the ₦372.62 billion total.
The figures are consistent with the cumulative amounts shown in NELFUND’s student loan disbursement dashboard posted on October 3, which covered payments through September 29, 2026.
| Category | Reported figure |
|---|---|
| Applications processed | 1,659,853 |
| Total disbursement | ₦372.62 billion |
| Institutional tuition and fees | ₦192.89 billion |
| Students’ upkeep allowances | ₦179.73 billion |
| Tertiary institutions covered | 319 |
Processed Applications Are Not the Same as Beneficiaries
The APC PCC said NELFUND had processed 1,659,853 loan applications. That figure should not automatically be interpreted as the number of unique students approved for funding or paid.
Applications received, applications processed, approvals and completed payments describe separate stages of the scheme. The published total does not show how many applications were approved or rejected, how many people are still awaiting a decision, or how many individual students received both tuition support and upkeep.
A fuller account of the scheme would include the number of unique beneficiaries and a breakdown of approved, rejected and pending applications, alongside payment timelines for institutions and students.
APC PCC Presents Figures as Part of Education Reforms
The APC PCC presented the student loan figures as part of the Tinubu administration’s education reforms. It also cited the separate Technical and Vocational Education and Training (TVET) programme, which it said attracted more than 2.8 million applications and had 156,446 verified trainees receiving training and support.
The TVET figures concern a different programme and should not be added to NELFUND’s loan applications or disbursements. NELFUND supports students in tertiary institutions through loans for eligible institutional charges and upkeep, while TVET focuses on vocational training and practical skills.
While the ₦372.62 billion total indicates the reported scale of the student loan programme, regular information on approvals, unique beneficiaries, institutional payments and upkeep transfers would help students and families assess its reach.
Read also:
- NELFUND Accuses Students of Accessing Loans Without Knowledge of Parents, Sponsors
- NELFUND Student Loan: ₦20,000 Is Monthly Upkeep, Not School Fees
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