The Nigerian Education Loan Fund (NELFUND), initiated by President Bola Tinubu’s administration to assist indigent students with tuition loans and a ₦20,000 monthly upkeep allowance, has halted stipend disbursements since June, leaving hundreds of beneficiaries struggling financially.
Students across universities in the country have reported that the delay has pushed many into debt, forcing some to skip lectures or even buy food, despite earlier assurances from the federal government that the payments would be consistent. Meanwhile, NELFUND, which is under the direct supervision of the Federal Ministry of Education, was meant to tackle financial issues in Nigeria’s higher education through the provision of interest-free loans for tuition and monthly stipends.
According to the government’s initial rollout plan, the ₦20,000 upkeep allowance was to be disbursed directly into beneficiaries’ bank accounts every month. However, now, with payments halted for over two months, many question the scheme’s transparency.
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