NELFUND student loans
Figures below refer to 25 July 2026 unless stated otherwise.
The claim
The Nigerian Education Loan Fund has disbursed substantial sums to a large number of students, with a documented disruption in mid-2026 that was subsequently resolved.
Figures
As at 3 July 2026: ₦303.91bn disbursed to 1.64 million students — ₦190.06bn in institutional fees and ₦113.85bn in upkeep. ₦21.71bn was added between 5 May and 3 July 2026. Trajectory: ₦206.29bn to 1.16m students (March 2026), ₦242.4bn to 1.38m (April 2026), ₦303.91bn to 1.64m (July 2026).
The counter-argument
Students went unpaid on June and July 2026 upkeep and threatened protests; NELFUND denied suspending payments and called a circulating suspension notice fake on 11 July 2026, and cleared the backlog with a ₦40,000 payment around 25 July 2026. Tell that story whole — arrears and resolution. Check whether payments have stayed regular before citing this again.
Sources
- Guardian — NELFUND disburses additional ₦21.7bnguardian.ng
- Guardian — NELFUND clears June–July upkeep backlogguardian.ng
- Nairametrics — NELFUND denies suspending upkeepnairametrics.com