The Nigerian Education Loan Fund (NELFund) has announced the successful disbursement of over N2 billion in institutional fees to six students enrolled in various educational institutions nationwide.
In a statement released on Friday in Abuja, NELFund spokesman Nasir Ayitogo highlighted that a total of 22,120 students have benefitted from this initiative.
This financial assistance aligns with President Bola Tinubu’s pledge to improve educational access for Nigerians, demonstrating a strategic move to alleviate the financial pressures faced by students in their pursuit of education.
Ayitogo emphasized that the fund’s disbursements are timed according to the academic calendars of the institutions, ensuring that students receive support at the beginning of each session.
“To date, six out of the twelve participating institutions have received full payments covering more than 20,000 students,” he stated. “The total funds allocated to these institutions amount to approximately N2,026,163,340, with the remaining six institutions set to receive their payments in the coming week.”
These disbursements are crucial for enabling Nigerian students to continue their studies without disruptions, providing them and their families with the peace of mind necessary for academic success.
Furthermore, Ayitogo revealed that NELFund has initiated payments for students’ upkeep in addition to institutional fees. For the month of July, an allocation of N442 million has been designated for this purpose.
“These upkeep payments will extend support to all 22,120 students across the twelve institutions, with additional funding planned for the upcoming weeks and months,” he added. (NAN)
