NELFUND: University Students Celebrate, Use N20,000 Loan to Stock Up on Food

Some university students who recently received the N20,000 stipend from the Nigerian Education Loan Fund (NELFUND) have started celebrating the payment.

Many took to social media to express their surprise, while others shared how they used the money to buy foodstuffs. Some mentioned that it eased the financial burden on their parents.

Financial hardship is a significant challenge for many students in Nigeria’s public tertiary institutions, with lack of funds keeping many young people out of school as their families struggle to afford higher education.

A total of 20,371 students from six universities received N20,000 each as their July stipends. The benefiting institutions include Bayero University, Kano; Federal University, Dutsin-Ma, Katsina State; University of Ilorin, Kwara State; University of Benin, Edo State; University of Ibadan, Oyo State; and University of Maiduguri, Borno State.

NELFUND began disbursing these stipends on August 5, 2024, after covering the students’ school fees.

Emmanuel John, a 300-level Agronomy student at the University of Ibadan, shared his experience, saying, “I applied for N240,000, to be disbursed as N20,000 monthly. I plan to use it for food and other expenses. I was thrilled to receive the money, as I initially thought it would be another unfulfilled government promise. This will definitely reduce the financial pressure on my parents.”

Muhammed Buba, an Accounting student at the University of Maiduguri, was also pleasantly surprised by the payment. He said, “I’m not financially stable, so I rely on help from friends and family. When I received the N20,000 stipend, I was able to buy more foodstuffs and save some money for other needs.”

Malik Ibrahim, a student from the University of Ilorin’s Faculty of Education, celebrated the stipend with friends. He recounted, “When I saw the N20,000 deposit, I was overjoyed. I shared the news with my faculty’s WhatsApp group, and we celebrated together.”

Another student from the University of Maiduguri, Mudassir Muhammad, posted on X, “I don’t understand why some Nigerians doubt NELFUND’s disbursement. I received my stipend two days ago.”

Several other students, including Taiwo Egbeyemi from the University of Ibadan and Tukur Muhammad from Federal University, Dutsin-Ma, also confirmed receiving their stipends and expressed their gratitude.

However, there were complaints from some students who did not receive the payment. NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, explained that some students had not yet been verified and approved, which delayed their payments. He assured that once verified, the remaining students would receive their stipends.

Oluwatuyi added that the six institutions were chosen based on their academic calendars, with more disbursements planned for other universities soon. He clarified that the N20,000 stipend is part of the loan and not a grant.

In response to the disbursement, the Academic Staff Union of Universities (ASUU) criticized NELFUND for not paying all universities simultaneously and reiterated its opposition to the student loan program. ASUU National President, Emmanuel Osodeke, questioned why only a few universities were paid when they all applied at the same time, expressing concerns about the long-term effects of the loan.

Meanwhile, Akinteye Babatunde, Senate President of the National Association of Nigerian Students, stated that the loan would reduce financial pressure on students and their families, and urged beneficiaries to repay the loan to allow future students to benefit.