Nigeria's Education Loan Fund faces funding reform push and student allowance delays

Senator Osita Izunaso urged a broader funding base for the Nigerian Education Loan Fund (NELFUND), calling on state governments and corporations to contribute and proposing a five‑year repayment plan for graduates. He also suggested raising the monthly upkeep allowance from N20,000 and praised the fund’s transparency while warning that reforms are needed to ensure its sustainability.

The National Association of Nigerian Students (NANS) reported that NELFUND has failed to pay students’ upkeep allowances for two months, causing anxiety and hardship. NANS demanded urgent action from the fund’s managing director, the education minister and the finance minister, warning that prolonged inaction could lead to peaceful protests, including occupation of the NELFUND headquarters.