NELFUND Speaks: Tinubu Govt Demands Repayment from Students

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Less than two years after the disbursement of student loans through the Nigerian Education Loan Fund (NELFUND), the administration of President Bola Tinubu has commenced steps to recover the loans from beneficiaries in tertiary institutions across the country.

A circular dated January 23 and signed by the Registrar of the University of Benin, A. A. Bobola, informed affected students of the procedures for repaying their NELFUND loans to the Federal Government.

The circular stated: “This is to inform all students of the University of Benin who are beneficiaries of the Nigerian Education Loan Fund (NELFUND) that the University Management has received the official guidelines for the repayment of student loans.”

It outlined a two-step repayment process and urged indebted students to strictly adhere to the guidelines to ensure timely confirmation of their repayments.

“Please ensure that you follow these steps carefully to avoid any delay in confirming your loan repayment. Members of the university community, particularly affected students, are hereby requested to note and comply accordingly,” the circular added.

The move to commence repayment comes barely two years after the loans were issued to students to support their education across various higher institutions in the country.

The NELFUND scheme was formally established in 2024 following the signing of the enabling Act into law by President Tinubu.

Earlier in January, the Managing Director of NELFUND, Akintunde Sawyerr, disclosed that the fund had received 1,361,011 applications, with 864,798 students already benefiting from the scheme. He added that total disbursements under the programme currently stand at ₦161.97 billion.