The Nigerian Education Loan Fund (NELFund) has disbursed over N2.5 billion in institutional fees to 12 schools across the country, benefiting 22,120 students, according to the Fund’s Spokesman, Nasir Ayitogo.
“This gesture is in alignment with President Bola Tinubu’s commitment towards enhancing educational opportunities for Nigerians,” Ayitogo stated.
He emphasized that the strategic effort aims to alleviate financial constraints for students, allowing them to continue their education without hindrance.
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Disbursements were made based on each institution’s academic calendar. “So far, six of the 12 institutions have received full payment of their institutional fees, covering over 20,000 students,” Ayitogo noted.
“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.”
Ayitogo highlighted the importance of these disbursements, stating, “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 institutional fees, NELFund has also started the payment of upkeep allowances, allocating N442 million for the month of July.
“The upkeep payments will benefit all 22,120 students across the 12 institutions, with more to come in the coming weeks and months,” Ayitogo said.
He reiterated the federal government’s commitment to the overall well-being and academic success of Nigerian students in government institutions, adding, “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.”
