The Nigerian Education Loan Fund (NELFUND) has unlocked a new era of opportunity, channeling N116.4 billion in interest-free financing to students across the country since its digital gateway launched on May 24, 2024.
This bold initiative, a cornerstone of President Bola Tinubu’s vision, dismantles economic roadblocks that once forced talented youth to abandon their academic ambitions. By removing the fear of debt, NELFUND is reshaping Nigeria’s future one graduate at a time.
A detailed update shared through NELFUND’s verified X platform on October 28, 2025, paints a picture of explosive growth: 929,805 applications received, with 624,535 already greenlit for support.
The momentum shows no signs of slowing an additional 12,398 approvals rolled in the day before, marking a 1.4% daily increase. These numbers aren’t just statistics; they represent families celebrating acceptance letters, campuses buzzing with new energy, and communities investing in their brightest minds.
Dual Funding for Full Support
NELFUND’s strategy goes beyond tuition. As of October 9, 2025, the fund had transferred N65.3 billion directly to 239 tertiary institutions, settling fees that keep students enrolled and focused.
Meanwhile, N51.1 billion in monthly stipends flowed into learners’ accounts, covering essentials textbooks, meals, transport, and accommodation. This holistic model ensures no one drops out due to hunger or housing woes.
The repayment terms are refreshingly humane: no interest, no payments until after graduation and employment. Enacted into law in April 2024, the program targets public universities, polytechnics, and colleges of education, with priority for those from modest backgrounds.
It’s not charity—it’s a strategic investment in human capital, designed to yield dividends through skilled professionals driving national development.
Fresh Portal Opens for 2025/2026
The next chapter begins soon. NELFUND’s application platform for the 2025/2026 academic year goes live on Thursday, October 23, 2025, and remains open until Saturday, January 31, 2026. This generous window captures every admission phase, from early offers to late placements.
Oseyemi Oluwatuyi, Director of Strategic Communications, announced that first-year students can apply using their JAMB Registration Number or Admission Number—no matriculation ID required.
This streamlined process eliminates early hurdles, letting freshers focus on orientation, not paperwork. Institutions are urged to upload verified data swiftly to trigger rapid loan releases.
Previous applicants with pending verifications face an October 8 cutoff after which unconfirmed entries expire, clearing the way for a clean, efficient new cycle.
A Beacon of the Renewed Hope Agenda
NELFUND stands as a flagship of the Renewed Hope Agenda, proving education is a public good, not a luxury. More than half a million beneficiaries now walk lecture halls who might otherwise be on the streets.
Their stories inspire: the village girl now studying nursing, the mechanic’s son coding apps, the farmer’s daughter drafting architectural plans.
With applications nearing one million, the message is clear: remove the cost, unleash the talent. NELFUND isn’t just funding education, it’s building a knowledge economy, one loan at a time.
Ready to study without stress? Apply when the portal opens!
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