The program has moved into a massive secondary phase, since its launch of NELFUND in 2024, cumulative figures now dwarfing the initial rollouts. Over ₦206.2 billion has been disbursed since the program’s inception. More than 1.16 million students across over 260 tertiary institutions have successfully accessed the fund.
The portal has seen over 1.69 million total loan applications as of the most recent reporting cycle. While the program initially focused heavily on federal institutions, it has continued to integrate more state-owned and vocational institutions into the verified portal.
The application portal for the current academic session was extended through March 2026 to accommodate institutions that requested more time for their students to complete verification.
The fund continues to split payments: Institutional Charges (tuition) are paid directly to the schools, while the Upkeep Allowance (stipend) is paid monthly to students’ personal accounts.
It remains a zero-interest loan. Repayment only kicks in two years after a beneficiary completes their National Youth Service Corps (NYSC) program, provided they have secured employment.
