…Says 1,361,011 Applications Received, 864,798 Benefited Thus Far
Lucky Obukohwo, Reporting
Hope has risen once again for Nigerian students as the Managing Director of Nigeria Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has given them the assurance that those with outstanding payments of monthly upkeep (N20, 000) will get their payment soonest.
He said that all the shortcomings have been identified and fixed and they would start getting their money in the shortest time.
Mr. Sawyerr, disclosed this at a press conference in Abuja.
Sawyerr added that bank account issues and other technical errors from the students were identified as some of the challenges.
“We acknowledge the outbursts and concerns of the affected students, and but we have done the necessary cleansing of the system to ensure timely and seamless disbursement of the upkeep now and going forward.
“Following the conclusion of the 2024/2025 academic session, our team at NELFUND carried out a routine reconciliation of student upkeep payments. This process revealed that 11,685 students currently have outstanding upkeep payments totaling N927.98 million.
“But let me be very clear. These are not cases of withheld funds or policy failure. Rather, they are the result of technical and operational issues, including temporary network downtime, failed transactions, and instances where bank account details could not be validated at the time of processing.
“But in line with the President’s directive on accountability and efficiency in public service, management has approved a one-time, focused reconciliation process to resolve all outstanding cases.
“Others include direct engagement with affected students, a defined grace period for updating or providing alternative bank account details, multi-layer validation involving IT, client support, audit, and finance teams, and prompt payment once validation is completed.
“Nevertheless, our objective is straightforward: every eligible student must receive what is due to them, accurately, transparently, and without delay. To Nigerian students and their families, I want to offer this assurance.”
The Managing Director further disclosed that since the launch of the NELFUND student loan portal, the response from Nigerian students has been significant and encouraging.
“As at today (Tuesday), 1,361,011 applications have been received; 864,798 students have so far benefited from the loan scheme, and total disbursement stands at N161.97 billion.
“This includes N89.94 billion paid directly to 263 tertiary institutions for tuition and institutional fees, and N72.03 billion paid directly to students as upkeep allowances.
“These figures represent more than statistics. They reflect real lives impacted, real barriers removed, and real opportunities created under the Renewed Hope Agenda.
“Over the last year, NELFUND has also undertaken extensive sensitisation and engagement across tertiary institutions nationwide, working directly with students, school authorities, and stakeholders to drive awareness, understanding, and access to the scheme.
“However, as we move into this new phase, we recognise that deepening impact requires broader engagement.
“This year, our focus will expand to another very important group within the NELFUND ecosystem: parents, guardians, and traditional institutions.
“To this end, we will be engaging traditional rulers, community leaders, parents, and faith-based institutions, taking the message of NELFUND to churches, mosques, motor parks, and community spaces across the country.
“This is about taking NELFUND and its programmes to the grassroots, ensuring that families understand the scheme, trust the process, and are empowered to support their children in accessing higher education. Transparency always requires us to speak openly about the challenges.”
He said NELFUND remains committed to the values of transparency, fairness, and service that underpin the Renewed Hope Agenda. “Our systems are deliberately designed not only to disburse funds, but to protect public resources and ensure that every payment is correct and accountable.”
He appreciated the patience shown by affected students and the constructive role played by the media. “We will continue to provide updates as this reconciliation exercise is concluded because NELFUND is more than a financial intervention.
“It is a key pillar of the Renewed Hope Agenda, aimed at expanding access to higher education, strengthening human capital, and securing Nigeria’s future.”
