Last Updated on 3 months ago by Haruna Ayuba
NELFUND received 6,657 new student loan applications on February 10th, bringing the total applications to 1,593,279 since the portal launched in May 2026. The fund continues to support 983,706 students with ₦183.8 billion in total disbursements across 265 institutions. Here’s what today’s numbers reveal about the program’s momentum and what it means for your application.
Today’s Quick Stats
- Total Applications: 1,593,279
- Total Beneficiaries: 983,706 students
- New Applications (Feb 10): 6,657
- Daily Growth Rate: 0.4%
- Institutions Receiving Funds: 265
- Total Disbursed: ₦183,885,809,491
What Changed Today
Yesterday’s data shows 6,657 Nigerian students submitted loan applications, representing a 0.4% increase from the previous day. This brings total applications to 1,593,279 since inception, maintaining the steady demand we’ve tracked throughout February.
The growth rate of 0.4% is slightly below the recent weekly average of 0.5%, which is normal fluctuation rather than a concerning trend. Application volumes typically vary by day of the week, with midweek submissions often running higher than weekend filings.
Total disbursements remain at ₦183.8 billion, unchanged from the February 1st snapshot. This stability indicates we’re looking at cumulative figures rather than daily processing updates. The beneficiary count holds at 983,706 students, confirming the approval rate continues around 62%.
What This Means for Students
The consistent application flow tells us the NELFUND system remains accessible and students across Nigeria continue to discover the program. With nearly 1.6 million applications submitted and just under 1 million approved, the overall approval rate of approximately 62% has proven remarkably stable.
For current applicants, this data offers predictability. The steady processing pace means turnaround times remain consistent at the 14-21 business day range we’ve observed. If you applied in late January, you should be receiving status updates this week.
The unchanged disbursement total since February 1st suggests this report captures cumulative data rather than daily incremental payments. NELFUND typically updates disbursement figures in batches as new approvals are processed and funds transferred. Don’t interpret the static number as a pause in payments, rather as a reporting timeline that doesn’t reflect real-time daily transactions.
Disbursement Breakdown
Based on the February 1st disbursement snapshot:
- Institutional Fees Paid: ₦107,086,869,491 (sent directly to 265 universities and polytechnics for tuition coverage)
- Student Upkeep Allowances: ₦76,798,940,000 (transferred to student accounts for living expenses)
- Total Loan Disbursed: ₦183,885,809,491
This breakdown shows NELFUND maintains its dual commitment, allocating roughly 58% to institutional fees and 42% to student upkeep support.
Pro Tip for Applicants
With 6,657 applications submitted yesterday, competition for processing slots remains active. Make sure your application stands out by double-checking three critical elements: verified academic transcripts uploaded clearly, complete guarantor information with working contact numbers, and accurate bank account details matching your BVN exactly. Incomplete applications in any of these areas account for the majority of delays and rejections we’ve tracked.
Common Questions Answered
How does the 62% approval rate affect my chances?
The 62% approval rate means approximately three out of every five applications receive funding. Your individual chances depend heavily on application completeness. Based on patterns we’ve observed, applications with all required documents properly verified see approval rates above 80%, while incomplete submissions drop below 40%. Focus on quality over speed when preparing your application.
Why hasn’t the disbursement amount changed since February 1st?
NELFUND updates disbursement figures periodically rather than daily. The February 1st snapshot represents cumulative totals through that date. New disbursements are being processed continuously, but the public dashboard may update weekly or bi-weekly. This doesn’t mean payments have stopped, just that the publicly reported figure reflects the last official update.
Stay informed with CampusNinja for daily NELFUND tracking and expert analysis. We monitor the numbers so you can focus on getting your application right.
