University students across Nigeria have expressed joy and relief after receiving a N20,000 stipend from the Nigerian Education Loan Fund (NELFUND). The stipend, disbursed to students from six public universities, has been welcomed as a much-needed financial boost, with many students using the money to purchase foodstuffs and other essentials.
A total of 20,371 students from Bayero University, Kano; Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan; and University of Maiduguri received the payment for July. The stipends began being disbursed on August 5, 2024, and have helped ease the financial burdens on many students.
Emmanuel John, a 300-level student at the University of Ibadan, shared his excitement about the payment, saying it would help him manage his expenses and reduce the financial pressure on his parents. Similarly, Muhammed Buba, an accounting student at the University of Maiduguri, used the stipend to buy foodstuffs, expressing gratitude for the timely support amid rising costs of living.
Malik Ibrahim, a student at the University of Ilorin, initially thought the stipend was a scam but was overjoyed when he confirmed the payment. He and his friends celebrated the windfall by spending part of the money together.
The disbursement has also sparked reactions on social media, with students from various universities posting their excitement and thanking NELFUND and the government for the support. However, some students have expressed frustration about not receiving their payments yet. NELFUND’s Director of Corporate Communications, Oseyemi Oluwatuyi, clarified that some students are still awaiting verification and approval, assuring that they will be paid once the process is completed.
While the disbursement has brought relief to many, the Academic Staff Union of Universities (ASUU) remains critical of the loan scheme. ASUU President Emmanuel Osodeke questioned why the loan could not be disbursed to all universities simultaneously and reiterated the union’s concerns about the long-term impact of students graduating with significant debt.
Despite ASUU’s reservations, the Senate President of the National Association of Nigerian Students, Akinteye Babatunde, welcomed the loan, emphasizing that it would reduce financial pressure on students and their families. He also urged beneficiaries to repay the loan to ensure future students can benefit from the program.
News Editor