NELFUND
Olamilekan Abayomi
NELFUND has denied reports of an increase in the monthly student upkeep allowance, stating that it remains N20,000. The agency clarified that claims of a rise to N25,000 are false and urged students to disregard such misinformation.
The Nigerian Education Loan Fund (NELFUND) emphasized its commitment to transparency and efficient service delivery, assuring beneficiaries that all disbursements and policy updates would be clearly communicated. Students are advised to rely on official NELFUND communication channels for accurate updates.
NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, signed the statement, reunfirmed NELFUND’s commitment to supporting students and expressed appreciation for their cooperation.
The controversy surrounding NELFUND’s student upkeep allowance is not new. Some students have expressed concerns about the irregularity of payments, while others have questioned the adequacy of the N20,000 monthly stipend in the current economic climate.
NELFUND has disbursed over N206 billion in student loans to more than 1.6 million beneficiaries in public tertiary institutions across the country. The agency has also urged students to update their bank details to facilitate timely payments.
The agency’s efforts to provide accessible and student-centered financial support have been acknowledged, but there are calls for improvement in implementation and transparency.
