NELFUND figures require date-stamped treatment

In early 2026, the Nigerian Education Loan Fund (NELFUND) released disbursement figures that varied significantly across different reports and timeframes. By March 2026, official sources indicated the fund had disbursed over ₦206 billion in loans to approximately 1.16 million students. However, these numbers appeared to fluctuate in various government announcements and media reports, creating confusion about the actual scale and pace of the loan program's implementation.

NELFUND was established as part of the Student Loans Act signed into law in 2023, designed to provide accessible higher education financing for Nigerian students from low-income families. The program represented a major shift from previous education funding approaches, promising to cover tuition fees and living expenses for eligible students across federal and state institutions. Early implementation faced challenges including verification processes, institutional coordination, and the establishment of disbursement mechanisms across Nigeria's complex higher education landscape.