The Nigerian Education Loan Fund (NELFund), says it has disbursed more than N2 billion in institution fees to 6 students in schools across the country.
The spokesman of the Fund, Nasir Ayitogo, in a statement on Friday in Abuja, said that 22,120 students have so far benefited from the exercise.
According to Ayitogo, the gesture is in alignment with President Bola Tinubu’s commitment towards enhancing educational opportunities for Nigerians.
He said the strategic effort aimed to ensure that students who really need the funds could continue their education by lowering the burden of financial constraints.
Ayitogo said that disbursements were made based on each institution’s academic calendar – beginning of the session.
“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,” he said.
Ayitogo said NELFUND had also commenced the payment of upkeep to students in addition to the institution fees.
According to him, this initiative will provide essential financial support for living expenses as N442 million has been allocated 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,” he said. (NAN)
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