NELFUND: Why ₦20,000 Is Not the Full Cost of a Student’s Education

Former Senator Dino Melaye’s criticism of the Nigerian Education Loan Fund has renewed debate over the ₦20,000 paid to student beneficiaries. However, the amount is an upkeep allowance, not the full school-fee payment under the scheme. NELFUND’s structure separates institutional charges from upkeep support. Approved fees are paid directly to institutions for eligible students, while the ₦20,000 is paid to students to assist with living and study expenses. The National Association of Nigerian Students has also made this distinction in its response to Melaye’s comments. I support the Tinubu administration’s student-loan initiative, but that does not mean it should be shielded from scrutiny. Students and the public should question delays, transparency, access and whether ₦20,000 is enough in the current economy. Still, criticism should accurately reflect what the scheme covers before allegations of failure or corruption are made.

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