The Nigerian Education Loan Fund (NELFUND) has allocated over N5.093 billion in institutional fees to 59 federal and state tertiary institutions across Nigeria. This funding is part of the ongoing efforts to support students with financial assistance for their education.
So far, 45,440 beneficiaries have received financial support from NELFUND. The organization has also begun a series of sensitization campaigns to increase awareness among students and schools about the loan program. NELFUND has visited institutions including Chukwuemeka Odumegwu Ojukwu University in Anambra State, Federal Polytechnic in Nekede, Imo State, and Michael Okpara University of Agriculture in Abia State.
Other institutions that have been visited are the University of Calabar, Akwa Ibom State Polytechnic, and the University of Port Harcourt, among others. These visits are part of a broader initiative to educate students about how they can benefit from the loan scheme and improve their access to higher education.
NELFUND’s Managing Director, Akintunde Sawyerr, emphasized the significance of the program in removing financial barriers to education. He explained that the sensitization efforts aim to clarify the details of the loan scheme and encourage students to apply. The loan covers both tuition fees and monthly stipends, making it easier for students to focus on their studies without worrying about financial issues.
The loan scheme, which began on May 24, 2024, is expected to assist up to 1.2 million students. As of now, over N5 billion has been distributed to students in various institutions across the country. Some of the universities benefiting from this scheme include Alex Ekwueme Federal University, Delta State University, and Yaba College of Technology.
Professor Owunari Georgewill, Vice-Chancellor of the University of Port Harcourt, praised the federal government’s initiative. He encouraged students to make the most of this opportunity and use their monthly stipends wisely to support their education.
