Nigerian Education Loan Fund (NELFund) has disbursed more than N2.5 billion in institution fees to twelve schools across the nation.
Gatekeepers News reports that spokesman of the Fund, Nasir Ayitogo revealed this through a statement released on Friday in Abuja.
Ayitogo noted that 22,120 students benefited from the exercise, adding that the gesture is in alignment with President Bola Ahmed Tinubu’s commitment to enhancing educational opportunities for Nigerians.
He said the sim is to ensure that students who need the funds can continue their education by lowering burden of financial constraints.
Ayitogo noted that disbursements were made based on each institution’s academic calendar at beginning of the session.
He said, “So far, six of the 12 institutions have received full payment of their institutional fees, covering over 20,000 students.”
“The total amount disbursed to these institutions stands at approximately N2,026,163,340. A further six will receive their payments in the coming week.”
“These disbursements will ensure that Nigerian students can proceed with their academic activities unimpeded, fostering peace of mind much needed for these students and their families.”
The spokesman said NELFUND had also begun payment of upkeep to students in addition to institution fees.
He noted that the initiative will provide essential financial support for living expenses as N442 million has been allocated for July.
Ayitogo said, “The upkeep payments will benefit all 22,120 students across the 12 institutions, with more to come in the coming weeks and months.”
“This is reflecting the federal government’s commitment to the overall well-being and academic success of Nigerian students in government institutions.”
“These figures highlight NELFUND’s unwavering dedication to ensuring that financial constraints do not impede academic pursuits.”
“NELFUND believes that these disbursements will significantly ease the financial burdens on students and their families, enabling them to focus on their studies and future careers.”
