Students from not less than 23 public universities and polytechnics have bemoaned the lateness in disbursement of their approved institutional loans from the Nigerian Education Loan Fund (NELFUND) as deadlines for tuition payment and examinations approaches sooner.
President Bola Tinubu assented the Students Loan (Access to Higher Education) (Repeal and Re-enactment) Act into law on April 3, 2024, for the provision of sustainable higher education funding for Nigerian students.
Since the commencement of NELFUND most students in tertiary institutions have benefited. As of February 3, 2025, it reported receiving 364,042 student loan applications and disbursing N20,074,050,000 for institutional fees, benefiting 192,906 students.
Another N12,818,960,000 was apportioned to 169,114 students, while each got a N20,000 monthly payment for upkeep.
However, in reaction to NELFUND’s verified posts on X (formerly Twitter) in the cause of the week, students from several institutions, including the University of Nigeria Nsukka; Obafemi Awolowo University; Federal University, Lokoja; Ladoke Akintola University; and others in Northern Nigeria displayed displeasure as a result of the non-disbursement of their approved loans.
Many bemoaned that their school portals were shutting down in a matter of days, with forthcoming examinations.
Speaking with the press on Saturday, a NELFUND official, demanding anonymity as a result of unauthorisation to speak on the issue, faulted schools for the lateness in tuition fee disbursements.
The source highlighted, “Most times, these issues don’t originate from us. Once we approve the payments, we send the students’ data back to the schools for verification.
“The schools are then required to confirm the validity of the students and the tuition fees before we proceed. However, many institutions fail to respond promptly. We have to keep sending emails and reminders.”
