Presidency Denies Reports of Immediate NELFUND Loan Repayment

The Federal Government has dismissed reports suggesting that Nigerian students are being asked to immediately begin repayment of loans granted under the Nigerian Education Loan Fund (NELFUND).

Addressing the controversy, Olusegun Dada, a presidential media aide, said the claims circulating online were misleading and urged the public to disregard them.

In a statement posted on his X account on Saturday, Dada clarified, “Repayment of the student loan will not commence until the applicants have completed the mandatory two-year moratorium following the National Youth Service Corps (NYSC).

As it stands, the scheme will reach the two-year mark in March 2026 from the date of first application, and none of the beneficiaries are yet required to start repayment. Kindly disregard any contrary information.”

The clarification comes after widespread reports suggested that President Bola Ahmed Tinubu had instructed students to settle their NELFUND debts immediately, causing anxiety among thousands of tertiary institution graduates.

Acting Managing Director of NELFUND, Mr. Akintunde Sawyerr, confirmed that the agency has disbursed N174 billion to over 800,000 beneficiaries across 263 tertiary institutions nationwide since the scheme’s inception.

Sawyerr described the loans as part of the government’s efforts to expand access to higher education and reduce financial barriers for students.

Education analysts say the NELFUND programme remains a critical intervention in Nigeria’s higher education sector, providing students with the financial backing to complete their studies without interruptions.
With the moratorium on repayments still in effect, students and their families can continue to focus on completing their education, officials noted.

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