NELFUND Disburses N372.6bn, Calls for Sustainable Multi-Year Funding
NELFUND disbursed N372.62bn as of 29 Sep 2026, with N192.89bn paid to 319 institutions and N179.73bn to students as upkeep allowances.
In Brief
- •NELFUND disbursed N372.62bn as of 29 Sep 2026, with N192.89bn paid to 319 institutions and N179.73bn to students as upkeep allowances.
- •1,659,853 applications were processed since the loan portal opened in May 2024.
- •The Alliance for Economic Research and Ethics Ltd/GTE urges the Federal Government to adopt multi‑year funding, strengthen accountability, and implement rule‑based delivery.
- •The group calls for regular, disaggregated performance reports and audited accounts to build public confidence.
- •The new Nigeria Tax Act 2025 removed the 1 % allocation that previously funded NELFUND, altering its legal funding framework.
Why It Matters
NELFUND’s disbursement of over N372bn represents a significant investment in expanding higher‑education access in Nigeria, potentially reducing students’ reliance on political connections or private benefactors. Sustainable, multi‑year funding and transparent delivery mechanisms are essential to maintain momentum, ensure equitable distribution, and serve as a model for other public interventions such as healthcare and agriculture.
Key Details
- Total Disbursement
- N372.62bn
- Institutional Payments
- N192.89bn
- Student Upkeep Payments
- N179.73bn
- Processed Applications
- 1,659,853
- Disbursement Date
- 29 Sep 2026
- Portal Launch
- May 2024
Context & Background
NELFUND is a student loan program that began operations in 2024. The 2025 Nigeria Tax Act removed the 1 % tax allocation that previously funded the scheme, prompting calls for a new, predictable funding model.
Original Reporting & Sources
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