The Nigerian Education Loan Fund (NELFUND) has continued its disbursement of significant student loans to institutions and students nationwide, surpassing N2.53 billion.
According to a statement by Nasir Ayitogo, Head of Media and Public Relations at NELFUND,
“In the light of the foregoing, NELFUND has so far further approved student loans amounting now to over N2,530,235,750, being disbursed across many institutions, benefiting 22,120 students.”
Ayitogo added, “This strategic effort aims to ensure that students who need the funds can continue their education by lowering the burden of financial constraints.”
He noted that “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.”
Ayitogo also emphasized that these disbursements will enable Nigerian students to continue their academic activities without interruption, providing necessary peace of mind for students and their families. He mentioned that, “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 July,” he said.
The upkeep payments will benefit all 22,120 students across the twelve institutions, with more to follow in the coming weeks and months, reflecting the federal government’s commitment to the overall well-being and academic success of Nigerian students.
“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,” Ayitogo added.
The fund clarified that disbursements are made based on each institution’s academic calendar and extended gratitude to all participating institutions and stakeholders for their cooperation and dedication to the initiative.