Why we’re yet to settle 11,685 students’ upkeep – NELFUND
By Uji A. Iliyasu, Abuja
The Nigerian Education Loan Fund (NELFUND) has explained why upkeep allowances amounting to ₦927.98 million owed to 11,685 students are yet to be paid, attributing the delay to technical and operational challenges encountered during the 2024/2025 academic session.
Speaking at a media briefing on Tuesday in Abuja, the Managing Director and Chief Executive of NELFund, Mr. Akintunde Sawyerr, said the outstanding payments were not a result of withheld funds or policy failure, but stemmed from issues such as temporary network downtime, failed transactions, and the inability to validate some students’ bank account details at the time of processing.
He disclosed that a routine reconciliation conducted at the end of the academic session uncovered the backlog, prompting management to approve a one-time reconciliation process to resolve all outstanding cases, in line with President Bola Ahmed Tinubu’s directive on accountability and efficiency in public service.
“As at January 13, 2026, NELFund has received a total of 1,361,011 applications, out of which 864,798 students have benefited from the loan scheme.
Sawyerr said. “Total disbursement so far stands at ₦161.97 billion.”
He explained that the amount includes ₦89.94 billion paid directly to 263 tertiary institutions nationwide to cover tuition and institutional fees, as well as ₦72.03 billion disbursed directly to students as upkeep allowances.
Sawyerr said the student loan scheme is a core component of the Renewed Hope Agenda of President Tinubu, aimed at ensuring that no Nigerian child is denied access to higher education due to financial constraints.
“These figures are more than statistics,” he said. “They represent real lives impacted, real barriers removed, and real opportunities created under the Renewed Hope Agenda.”
Sawyerr noted that since the launch of the NELFUND Student Loan Portal, the agency has undertaken extensive sensitisation across tertiary institutions, engaging students, school authorities, and other stakeholders to promote awareness and access to the scheme.
He added that NELFUND is now expanding its engagement efforts to parents, guardians, traditional rulers, and faith-based institutions, with plans to take awareness campaigns to churches, mosques, motorparks, and community spaces nationwide.
On the delayed upkeep payments, Sawyerr assured affected students that NELFUND is committed to resolving the issue promptly. He said the reconciliation process includes direct engagement with affected beneficiaries, a grace period for updating or changing bank details, multi-layer validation involving IT, audit, client support, and finance teams, and immediate payment once validation is completed.
“Our objective is straightforward: every eligible student must receive what is due to them, accurately, transparently, and without delay,” he said.
Also speaking, the Executive Director of Operations at NELFUND, Mr. Mustapha Iyal, said many students made errors while rushing to complete their applications, particularly in providing correct bank account details, which contributed to the delays.
He confirmed that reconciliation is ongoing and that disbursement of the outstanding upkeep allowances will commence within January to clear the backlog.
NELFUND reassured students and their families of its continued commitment to transparency, fairness, and effective service delivery as it works to strengthen access to higher education and human capital development in Nigeria.