NELFUND Beneficiaries Struggle As N20,000 Monthly Upkeep Stalls Since June

Since June, beneficiaries of the Nigerian Education Loan Fund (NELFUND) have been struggling as the N20,000 monthly upkeep allowance promised by the government has not been disbursed. This delay has left hundreds of students in financial distress, with some forced to skip lectures or go without food.

The NELFUND, supervised by the Federal Government, was established to provide financial assistance to students through tuition loans and monthly stipends. Despite assurances of consistent payments, the stipends have not been received for two months, leading to frustration among the beneficiaries.

Efforts to seek official explanations have been unsuccessful, leaving many students in a state of crisis. The government's new initiative, YouthCred, aims to provide Nigerian youth with access to loans without the usual hurdles of collateral and credit history, in an effort to transform Nigeria's credit culture and empower the next generation financially.