Tag: NELFUND

•Beneficiaries say it has made schooling piece of cake

• Our parents can now focus on other things

Following the establishment of the Nigerian Education Loan Fund, NELFUND, designed by the President Bola Ahmed Tinubu administration to make loans available to Nigerian students to pursue their educational dreams, about 300,000 students across the six geo-political zones of the federation are said to be currently enlisted and benefitting. Gboyega Alaka, in this insightful piece, takes a trip into the world of some of the beneficiaries, exploring how it is helping them assuage school fees and upkeep challenges.

One major thing that struck this writer during a search for beneficiaries of the Nigerian Education Loans Fund (NELFUND) students’ loan for interviews, was when he called its Abuja head-office and the anonymous voice at the other end simply replied, ‘Sorry we may not be able to help you. We don’t have direct contact with them… Usually they apply and we process.’

In Nigeria? That sounded like grandstanding. Weird, almost extreme…in a country where the ‘Man knows man’s’ syndrome has not only been established, but has become well entrenched, and almost like a norm.

Before then, this reporter had been struck by the story of Phoebe- surname withheld due to lack of permission. Phoebe is the daughter of Mummy Sarah, a cleaner in the Egbe neighbourhood of Ikotun, Lagos. As a struggling mother, Mummy Sarah struggles to make ends meet cleaning compounds. Information gathered by this reporter revealed that she makes less than N10,000, cleaning a whole compound. This, of course, includes sweeping, weeding and raking of the gutters. What this means is that the much she would make in a month depends on the number of houses in her care. She is also required to clean the compounds at least twice a week. So she works so hard and makes very little. As a result, though not young, she doesn’t come across much in looks or appearance – the type the North would refer to as the talakawa, or mekunu in the case of the Southwest Yoruba.

Somehow, not much is known about her husband, although information has it that she is married.

It was therefore a package of surprise, when someone asked after one of her daughters and she responded that “Oh, Phoebe? She has gone to school. She got admission to study in a university in Ondo State. ‘ Even though she couldn’t exactly recall the course, it was nevertheless cheery news – talk of the proverbial black pot producing white pap. She then went on to narrate how that was why she had to work so hard. She lamented how she had to work doubly hard to pay her school fees that first year.

Surprisingly, a concerned neighbour recently asked after Phoebe and how she was coping with school, and she stood up from her sweeping position, eyes radiant and said amidst laughter: “Ah, God has taken control. She told me it is the government that is paying her school fees now. She said Tinubu is giving them loan, and that they are also paying them a monthly N20,000.”  As a result, she said a huge load had been taken off her shoulders.

For some reasons, this reporter couldn’t reach Phoebe in school for a direct interview; her phone was said to have been stolen and she only calls whenever she feels compelled or had access to a phone. However, the mother’s story was telling enough.

Lesson: the seamless method of the scheme and its accessibility makes it easy for everyone – the mighty as well as the lowly to access the facility.

From Lagos to Sokoto, Maiduguri to Calabar, the story has been of accessibility and relief – both for students and parents. At the last count, over 300,000 students nationwide are said to be currently benefitting from the scheme. In LASU (Lagos State University, Ojo), a staff of the university proudly announced to this reporter that her two children – a male and a female are currently enjoying the scheme. “There is a lot to do with money; let them use it. When they finish and start working, they will settle with the government.” Her exact words.

Not long ago, a video of a university up North emerged on the internet, where students were seen celebrating payment of the loan and their monthly stipend.

In Lafia, Aisha Suleiman, a 21-year-old 400-level student of English and Literary Studies at the Federal University, Lafia, is also enjoying the facility.

Read Also: Nigeria has lost a patriot in Audu Ogbeh — Tinubu

Speaking to The Nation from her Lafia base in Nasarawa State, Aisha said she applied for the loan, not because her father, a real estate practitioner and businesswoman mother weren’t able to pay, but because she saw it as an option and felt it would be nice to ease the pressure on her parents.

“Before I applied, my parents were paying,” she stated. “I came across the information on our general platform; I clicked on it and followed the instruction. And then one month later, they came out with a list of successful candidates and my name was there. Some three or four months later, I started receiving the loan. I started receiving the loan from first semester of my 400 level. In my first semester, they paid N45,000; this (second) semester, they paid N40,000. And then they give us N20,000 allowance monthly, although I am yet to receive payment for this month (August). So far I have collected the stipends for six months, starting from April or March. They even paid backlog.”

Asked the conditions for the loan, Aisha said “Yeah, I know I have to pay back the loan, but I think the stipend is free.”

Did she have to lobby anyone to get approved for the loan?

“No. I just applied, and they responded. Months later, I started getting alerts,” she responded.

Several of her mates in school are also benefitting from the scheme, she confided in this reporter.

Twenty-seven-year-old Yusuf Kareem, going to 400 level Mass Communication student of the University of Ilorin is another beneficiary of the scheme who is full of praises for those who conceived the initiative.

Like Aisha, he learnt about it on her school’s platform, applied by following the steps, and Voila!

“I submitted my application in November 2024, and by March this year, 2025, I started receiving alerts in my account. They paid in the whole of my N218,000 school fees into my account at once. It was as if I was I dreamland. I never believed such a thing was possible, especially if you didn’t know any influential or powerful person. I also started getting the monthly N20,000 stipends from April this year, and it has been regular.”

However, unlike Aisha who is of the impression that the monthly stipends are non-refundable, Yusuf is of the belief that he will also be paying those back. But he is cool with it nevertheless.

So now, Yusuf looks forward to his final year without any fear or apprehension, having found a solution to his school funding challenges with the help of NELFUND.

He regaled this reporter with how he struggled to meet up with payments in his first two years, getting assistance only from an aunt.

Yes both his parents are alive, but they barely get by. Both operate provision stores, and struggle to make ends meet. So the NELFUND intervention is highly welcome.

“I also get to concentrate more on my education. With school fees worry out of the way, and the monthly stipends, I can reduce my level of working outside during school period.”

Is he aware he will be paying back? “Yes,” he replied, adding that he is committed too.

Does he think it’s a good project? “Absolutely,” he replied, adding, “Very good indeed.”

He also thinks the government should pump more money into it to reach more students.

Already, he knows many students currently benefitting, and believes many more would like to benefit.

I took the loan because it’s interest-free

Olanrewaju Ilyas, another Mass Communications student of the University of Ilorin, is also a beneficiary.

Based in Malete in Kwara State with a cab driver dad and trader mum, Olanrewaju feels taking the loan would ease his parents’ burden.  More importantly, the fact that it is interest-free makes it endearing and comforting.

“I decided to apply for the students’ loan mostly because it is interest-free, and because I feel my parents are overburdened, and freeing them from that obligation will go a long way in easing the pressure on them, so they can concentrate on other things. Hopefully I will be able to pay back once I start working.”

Olanrewaju applied for the loan a bit late last year while in his 300-level, he told The Nation; so he didn’t start getting payment in time. As a result, he had to source and pay the money on his own. But he got refunded by NELFUND. He also started receiving his monthly stipend from the month of approval.

“Now, I’m in my final year and I’m expecting the payment for this academic year. I’m also receiving the monthly stipends of N20,000. As we speak, I have received it for six months.” he said with relish.

“Since I started collecting the stipends, it has really helped me financially. Now I only collect money from my parents when I run out of cash, and that’s a lot lesson them.”

Asked if he had to lobby anyone at NELFUND to get approved for the loan, Olanrewaju answered in the negative: “No. It took like three weeks before they verified me and but it took a while before they started paying me. Don’t forget I applied late.”

Of the programme as a whole, he said: “I think it’s a good programme and the government should expand it and make it get to more people. As it is, I’m going to 300-level, and I started enjoying the facility in my 200-level. What that means is that my parents only carried the burden in my Year 1.”

As for paying back, he said: “No problem. It’s flexible. It’s interest-free, and we only start paying two years after our NYSC. It’s also dependent on if you have a job by then. Also the deduction is minimal, just 10 percent from your monthly salary.”

‘Our HOD advised us to apply, that it’s nothing’

Muhammed Adesoji Jegede, a 200-level going to 300-level student of Mass Communication at the Lagos State University of Technology (LASUTECH), has some good words for his HOD, Dr. Steve Adesemoye. He, it was, who advised them to apply and impressed it on them that it was nothing to be afraid of or skeptic about.

So now, he has applied; has been approved, and is expecting his first payment.

“I applied this July; I am currently on SEWES, having just completed my 200-level,” he said.

About the stipends, Muhammed said, “They said they’d start paying it from next semester.

“Before now, my parents were paying my school fees. My dad is a Clearing and Forwarding agent and my mum is a trader.  I however decided to apply for the loan as a way of assisting them and taking that load off their shoulders. Besides, I know they have a lot of bills to pick up.”

Asked what he thinks of the programme, Muhammed said: “I believe it is a good programme; I think it has really helped a lot of students. The other day, I overheard some students who are currently benefitting from it talking about it, and I think they really appreciate it. It is taking a lot off the shoulders of our parents.”

Sodiq Alabere is another University of Ilorin currently on the list of NELFUND. A Final Year Mass Communications student, Sodiq applied in August 2024, and although it took a while, he has already started receiving alerts.

“I learnt about it through a video online. A friend from Bayero University sent it to me, and after watching it, I decided it was worth it and followed the process. Like I said, it took a while, so I had already sourced money and paid my school fees, so that they don’t shut the portal. But the university later refunded me. As for the stipends, I started collecting four months ago, and since then, it has been regular.”

On why he applied, Sodiq said: “Actually, the assistance I am receiving for my education is minimal, so I knew I had to leverage on opportunities like this. My mum is late, my dad is alive but we’re not so close, so this loan will help me take care of my school fees needs without having to bother anybody.”

He also finds the fact that he never had to lobby anybody to be approved interesting. “That means things are looking up in the country. I mean, I just received the money in my account and I withdraw it at my pace.

“I think it is a fantastic initiative, but I think they should make the disbursement earlier, so that students would not have to be running around to source money to pay before deadlines. Yes they refund, but you know when they eventually do, the money would go to different things, which is not too good. They should make the disbursement as early as when the students resume for the academic session. We use portal system to pay and they can close it if we delay in paying.”

On paying back, Sodiq said: “The condition of paying back is very flexible and easy.  You are to pay back exactly two years after NYSC; and that’s once you get employment. And even if you’re self-employed, you can be paying 10 percent of your income to the government. If you are company or government employed, it is your employer that will be deducting and remitting money to the government.”

Last word? “I know a lot of people benefitting from it and I think they should continue,” he said.

Government should ensure continuity

For 21-year-old Ahmad Ogungbayi, also a Mass Communication student of the University of Ilorin, the interest-free students’ loan programme is so laudable, “they must ensure continuity, irrespective of successive administrations.”

Now going to 300-level, Ahmad started collecting the loan this past session; April this year, to be precise.

“I used it to pay my-200 level tuition fee. I actually paid, N97,000, but later got a refund from the school, having been approved. I got the information from my mum, a civil servant and her friend. She encouraged me to apply, and I did.

“You can say that I took the loan to assist my parents – dad is a lecturer, so it’s not as if they cannot pay. But everyone can do with some little help, especially in this economy.”

Ogungbayi is aware of other students who are also benefitting from the loan scheme, and he thinks it’s a great initiative altogether.

“It will help students whose parents are not so buoyant or who have minimal assistance, prosecute their education with little hassles. Apart from that, we also get paid monthly upkeep N20,000; and they pay us even when we’re on holidays. I already got the one for this month even though I am on holiday.”