Over 11,600 Students Set to Receive Unpaid NELFUND Upkeep Allowance
The Nigerian Education Loan Fund has officially moved to clear a significant backlog of financial obligations, confirming that over 11,600 beneficiaries are now being processed for their overdue stipends. This development comes as a major relief to the academic community, ensuring that the NELFUND Upkeep Allowance reaches those who were previously bypassed due to technical and administrative bottlenecks.
During a comprehensive briefing in Abuja on Tuesday, January 13, 2026, the Managing Director of the Fund, Akintunde Sawyerr, revealed that a thorough reconciliation exercise identified 11,685 students with outstanding payments totaling ₦927.98 million. These funds, which represent critical support for daily living expenses, are now being released to stabilize the welfare of students across various public tertiary institutions.
According to the agency’s leadership, the delay in the NELFUND Upkeep Allowance was not a result of a lack of funding or a change in government policy. Instead, the gaps were attributed to operational challenges, including failed bank transactions, incorrect account details provided by applicants, and temporary system downtimes during the peak of the 2024/2025 academic session. To rectify this, the management has approved a one time, intensive verification process. This involves direct collaboration with the bursary departments of over 100 institutions to validate student identities and ensure that the ₦20,000 monthly stipends are deposited into the correct, verified commercial bank accounts.
[Image showing a group of university students in a lecture hall with NELFUND branding in the background]
The scale of the student loan scheme has grown exponentially since its inception under President Bola Tinubu’s Renewed Hope Agenda. As of January 2026, the fund has received over 1.36 million applications, with total disbursements reaching ₦161.97 billion. A breakdown of these figures shows that while ₦89.94 billion was paid directly to 263 institutions to cover tuition and institutional charges, a staggering ₦72.03 billion has been distributed as direct upkeep to 864,798 students. The Managing Director emphasized that the monthly stipend is a vital tool for reducing dropout rates, as it allows students from low income backgrounds to focus on their studies without the constant pressure of basic survival costs.
Looking ahead, NELFUND is expanding its reach beyond digital platforms to engage with stakeholders at the grassroots level. Executive Director of Operations, Mustapha Iyal, noted that the fund is working to sensitize traditional rulers, community leaders, and parents about the benefits of the scheme.
Students who are still experiencing issues with their payments have been advised to raise support tickets via the official portal or visit their institution’s ICT department for data correction. With the reconciliation process now in its final stages, the government aims to ensure that no eligible Nigerian student is denied the opportunity to complete their higher education due to a lack of funds.