The Nigerian Education Loan Fund (NELFUND) has commenced payment of ₦40,000 in upkeep stipends to eligible students of the University of Ibadan (UI), ending days of anticipation and weeks of mounting frustration over delayed disbursements under the Federal Government's student loan scheme.
The disbursement, which began on August 5, covers the combined June and July 2026 upkeep allowances, at ₦20,000 per month. Several beneficiaries using GTBank and First Bank accounts confirmed receiving credit alerts as the payment rolled out, ending roughly a week of anticipation after UI students had been expecting the funds.
The delay had sparked visible frustration among UI students in the preceding months. In June, the National Association of Nigerian Students (NANS) publicly raised "grave concern" over the disbursement issues, with NANS President Akinteye Afeez Babatunde noting in a statement that upkeep payments had been on hold since around April "with no clear explanation or accountability from the relevant authorities." Babatunde described the continued delay as "completely unacceptable," warning it undermined the core purpose of the NELFUND initiative to relieve students amid difficult economic conditions and threatened peaceful mass action if the issue wasn't resolved.
By late July, NELFUND had begun clearing the backlog nationwide, with NANS confirming that payments were being released in phases and appealing for patience from students still waiting.
In comments to the News Agency of Nigeria this week, UI Registrar Ganiyu Saliu described NELFUND as a major educational reform, attributing the irregular payment history to disruptions in the university's academic calendar rather than the scheme itself. He expressed optimism that improved academic calendar stability, following recent industrial harmony in public universities, would lead to more predictable disbursements going forward. He also clarified that the allowance is tied specifically to periods when students are in session, not paid year-round.
Beneficiaries at UI, as with counterparts nationwide, said the funds would help cover essentials like transportation, feeding, and study materials. NANS reaffirmed its commitment to ensuring "no eligible Nigerian student is left behind," while continuing to press for more consistent, timely disbursement going forward.
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