By Alice Etuka, Abuja
The Nigerian Education Loan Fund (NELFUND) has approved the disbursement of N2,530,235,750 to 22, 120 students across tertiary institutions in the country.
NELFund Spokesperson, Nasir Ayitogo disclosed this in a statement issued on Friday, August 2, 2024.
Ayitogo explained that this strategic effort was aimed at ensuring that students who need the funds can continue their education by lowering burden of financial constraints:
“So far, six of the twelve 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.
“In addition to the institutional fees, NELFUND has also commenced the payment of upkeep to students.
“This initiative will provide essential financial support for living expenses. A total of N442,400,000 has been allocated for the month of July.
“The upkeep payments will benefit all 22,120 students across the twelve institutions, with more to come in the coming weeks and months, reflecting the federal government’s commitment to the overall well-being and academic success of Nigerian students in government institutions”, he said.
The Spokesperson informed that these figures highlight NELFUND’s unwavering dedication to ensuring that financial constraints do not impede academic pursuits.
He said 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.
In addition, the Fund clarified that disbursements were made based on each institution’s academic calendar (beginning of session).
