The Nigerian Education Loan Fund (NELFUND) has clarified that the monthly upkeep allowance for student beneficiaries remains N20,000. The Fund issued this clarification on Monday to counter what it described as misinformation circulating about a proposed increase. There had been reports suggesting that the stipend had been raised to N25,000.
In a statement, the Fund’s Director of Strategic Communications, Oseyemi Oluwatuyi, confirmed that the approved allowance is still N20,000. NELFUND urged students to disregard any unverified claims and to rely only on its official communication platforms for accurate updates. The agency reaffirmed its commitment to transparency and efficiency in delivering support to students.
NELFUND provides funding for tuition and daily expenses, with beneficiaries expected to begin repayment after completing their studies and securing employment. Since the programme began, NELFUND has released over N206 billion in loans to support more than 1.6 million students.
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NELFUND has directed students to contact the agency via email and its verified social media handles for any further inquiries. The Fund also expressed appreciation for the continued cooperation from students across the country.
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