FACT CHECK: Has President Tinubu Scrapped the NELFUND Student Loan Scheme?

The recent announcement that President Bola Ahmed Tinubu has ordered the scrapping of Students Loan Initiative, otherwise known as Nigerian Education Loan Fund (NeLfund) and to permanently withhold the monthly upkeep, has been circulating on many social media platforms. 

In a viral image containing the claim, it was asserted thus: “From today we have stopped the disbursement of NeLfund and we will no longer give monthly allowances because we have lost a lot of money in the country.”

The claim was made on 1st of March, 2026 from one personal account named Comrd Umar Abdulnafiu, which has generated over one thousands(1k) reactions and one hundred and forty six comments which has circulated widely both on WhatsApp, Facebook, and X (formerly Twitter), thereby generating disturbing concerns among students nationwide particularly at Usmanu Danfodiyo University, Sokoto (UDUS).

DIGEST PRESS made a diligent effort to review the official communications from the Presidency, the Federal Ministry of Education, and the Nigerian Education Loan Fund (NELFUND) and found the statement indicating the suspension of the loan scheme was manufactured by an unknown source.

Accordingly, recent public updates from NELFUND shows that disbursements to students and institutions are ongoing, subject to verification processes and academic session timelines. There has been no formal directive announcing a halt due to 'national revenue loss'.

THE FINDINGS

Findings by The DIGEST PRESS show that the post is FALSE.

From our findings, NELFUND officials familiar with the scheme explain that upkeep allowances are structured around academic calendars.

Further claim was that payments may pause during long vacations, or when institutional verification is pending, but it is different significantly from a nationwide suspension of the programme.

On the Nigerian Education Loan Fund Facebook Page as at 2nd of March, 2026 they are still urging students to apply because the NELFUND student Portal will close on 11th of March, 2026.

Also, in a formal statement issued on January 28, 2026, the Nigerian Education Loan Fund (NELFUND) addressed circulating concerns about its loan disbursements particularly to Ladoke Akintola University of Technology (LAUTECH) and reaffirmed that payments under the student loan scheme are active and ongoing.

According to the statement signed by Mrs. Oseyemi Oluwatuyi, Director of Strategic Communications for NELFUND, she confirmed that disbursements are made only after completion of all required validation and reconciliation with beneficiary institutions, ensuring accountability and proper processing.

Further, where delays occur as with LAUTECH, the Fund said it is actively engaged with the university to resolve outstanding requirements and effect payments as soon as possible.

In closing, NELFUND stated that it remains committed to transparency, accountability, and efficient delivery of student financing including tuition loans and upkeep allowances to Nigerians pursuing higher education.

The post that has been circulated that President Bola Ahmed Tinubu had suspended the NELFUND (students loan) is FALSE, as there is no official information from the Presidency, Federal Ministry of Education or NELFUND to support it.