Yaro Insider
ABUJA — Yaroinsider.ng | The Nigerian Education Loan Fund (NELFUND) is now spending close to ₦16 billion every month on student upkeep allowances, and with loan recoveries still stuck at zero, insiders say the scheme’s finances are being stretched thinner than at any point since it launched in 2024.
Managing Director Akintunde Sawyerr confirmed the figure in an interview with ARISE NEWS, framing it as the clearest warning yet that NELFUND loan sustainability cannot be taken for granted. “We’re currently facing a monthly bill of ₦16 billion, and without recoveries, the question remains: how do we keep this going?” Sawyerr said, calling on the Federal Government to widen the fund’s revenue base beyond the national budget.
The ₦16 billion figure covers only the upkeep component of NELFUND’s obligations, separate from the tuition payments made directly to schools. Sawyerr told ARISE NEWS that the fund has not recovered a single naira from students who have started repaying, more than two years after the scheme’s first disbursements, meaning every naira going out is currently drawn from government allocations and reserves rather than a revolving loan structure. He pointed to growing interest from private investors and philanthropic partners as one possible cushion, alongside a controversial government proposal to channel recovered proceeds of crime into education funding. Sawyerr was quick to stress that this route is not designed to incentivize plea bargains for corruption suspects, but rather to plug an immediate funding gap while a more durable model is built.
Why Is NELFUND Not Paying Upkeep on Time?
Students and parents have repeatedly asked why upkeep allowances arrive late, and NELFUND’s own explanation points to a mix of scale and system strain. A reconciliation exercise carried out at the end of the 2024/2025 academic session uncovered ₦927.98 million in unpaid upkeep affecting 11,685 students, traced to network downtime, failed bank transactions, and account validation errors rather than missing or diverted funds. Sawyerr has been explicit that the delays are technical and operational, not evidence of financial misappropriation, and has repeatedly noted that every payment under the scheme moves through traceable electronic banking channels.
Nelfund Student Loan Disbursement Delays: The 2026 Timeline
The disbursement delays came to a head in mid-2026, when many beneficiaries waited weeks past schedule for their ₦20,000 May upkeep allowance. NELFUND eventually cleared the backlog by paying June and July together, sending eligible students ₦40,000 in a single transaction. Students across universities, polytechnics, and colleges of education welcomed the combined payment as relief, even as some beneficiaries used social media to vent frustration over the uncertainty of the preceding months. NELFUND has framed the catch-up
exercise as proof that it is tightening its disbursement process
Akintunde Sawyerr and the NELFUND Portal: What Students Need to Know?
Beyond the funding debate, Sawyerr has used recent public appearances to defend the integrity of the NELFUND portal itself, insisting that every transaction on the platform is electronically logged and auditable. The portal, accessible at portal.nelf.gov.ng, remains the sole channel through which students apply, track status, and receive updates on their loan. To qualify for the monthly stipend, a student must register with a valid NIN, verify their identity using a matriculation or JAMB number, and specifically select the “Upkeep Loan” option during application, since choosing only “Institutional Charges” secures tuition payment but not the monthly allowance. Once a school uploads the student’s enrollment data and NELFUND approves the request, the portal dashboard updates to “Disbursed.”
NELFUND Upkeep News Today: The Numbers behind the Headlines
As of the latest disclosures, NELFUND has received over 1.36 million loan applications, approved more than 860,000 students, and disbursed a combined ₦161.97 billion in tuition and upkeep support. Of that total, ₦89.94 billion went directly to 263 public tertiary institutions, while ₦72.03 billion reached students as personal upkeep payments. Those numbers explain why the ₦16 billion recurring monthly bill has become such an urgent talking point in Abuja policy circles, since even modest growth in enrollment will keep pushing the fund’s obligations higher without a matching stream of loan repayments coming back in.
Frequently Asked Questions
Why is NELFUND not paying upkeep on time? Delays are largely tied to the scale of the ₦16 billion monthly bill combined with technical issues such as network downtime and unverified bank details, not withheld or missing funds, according to Akintunde Sawyerr.
How much does NELFUND spend on student upkeep every month?NELFUND’s monthly upkeep bill stands at approximately ₦16 billion, a figure Sawyerr disclosed during an ARISE NEWS interview.
Is NELFUND’s loan sustainability at risk? Yes, according to Sawyerr, who has publicly acknowledged that the absence of loan recoveries makes the current funding model unsustainable without new revenue sources.
How can I check my NELFUND upkeep payment status? Log in to the NELFUND portal at portal.nelf.gov.ng and check your dashboard; a status of “Disbursed” confirms your payment has been processed.
What caused the 2026 NELFUND disbursement delays? A combination of high demand, technical processing errors, and a temporary funding backlog led to delayed May payments, which NELFUND later cleared by combining June and July upkeep into one ₦40,000 payment.
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