Education
NELFUND Disburses Over N20bn in Student Loans, Assures Transparency
The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N20,074,050,000 in institutional fees, benefiting no fewer than 192,906 students across tertiary institutions in the country.
Akintunde Sawyerr, Managing Director of NELFUND, disclosed this in a statement made available to newsmen in Abuja on Monday.
According to him, the Fund has received loan applications from no fewer than 364,042 students, while about 169,114 students have so far benefitted from NELFUND’s monthly stipends disbursement. He added that N12,818,960,000 had been disbursed as stipends, with each student receiving N20,000.
Expressing gratitude to the government, Sawyerr said, “We appreciate the unwavering support of President Bola Tinubu in making higher education accessible to all deserving Nigerian students.”
He further assured that NELFUND remains committed to transparency and efficiency in managing the student loan scheme, promising to continue providing accurate updates as disbursements progress.