NELFUND: FG denies demands for student loan repayments

The administration of President Bola Ahmed Tinubu has refuted allegations that it is already requiring students to begin repaying their educational loans.

These clarifications follow widespread reports suggesting that the president had instructed beneficiaries of the Nigerian Education Loan Fund (NELFUND) to start settling their debts.

In response, presidential media aide Olusegun Dada urged the public to dismiss the circulating rumors as false.

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In a statement posted on his X account on Saturday, Dada clarified the terms of the loan scheme.

“As reported from inception, repayment of the student loan will not commence until a moratorium period of two years (after NYSC completion) has been reached by the applicants,” he explained.

He further noted that the repayment timeline has not yet been activated for any beneficiary.

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“As it stands, the scheme will clock two years in March 2026 from the day when the first applications were made, and not a single one of the applicants would have reached the repayment stage,” Dada stated. “Kindly discard any other information contrary to these.”

According to reports, the acting managing director of NELFUND, Mr. Akintunde Sawyerr, confirmed that the agency has disbursed N174 billion to over 800,000 students across 263 tertiary institutions.