The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of over N2 billion in institutional fees to students across six schools nationwide. This significant financial support aims to alleviate the financial burdens faced by students and ensure their continued education.
Nasir Ayitogo, the spokesman for NELFUND, stated on Friday August 2nd, 2024, in Abuja that a total of 22,120 students have benefited from this initiative so far. This effort aligns with President Bola Tinubu’s commitment to improving educational opportunities for Nigerians.
Ayitogo explained that the goal is to support students in need by reducing their financial burdens, enabling them to continue their education. The disbursements were scheduled according to each institution’s academic calendar, starting at the beginning of the session.
“So far, six of the 12 institutions have received full payment of their institutional fees, benefiting over 20,000 students. The total amount disbursed stands at approximately N2,026,163,340. The remaining six institutions will receive their payments in the coming week,” Ayitogo said.
He emphasized that these disbursements ensure that Nigerian students can continue their academic activities without financial disruptions, providing much-needed peace of mind for students and their families.
In addition to covering institutional fees, NELFUND has also begun providing upkeep payments to students. For the month of July, N442 million has been allocated for living expenses, benefiting all 22,120 students across the 12 institutions, with more payments to come in the following weeks and months.
This strategic effort by NELFUND is aimed at ensuring that students who genuinely need the funds can continue their education without the stress of financial constraints. The disbursements are part of a broader initiative to enhance educational opportunities and support the academic aspirations of Nigerian students.
Ayitogo highlighted that the initiative not only supports the students but also fosters a conducive learning environment by relieving financial pressures. This move is expected to contribute significantly to the overall development of the education sector in Nigeria, aligning with the government’s goal of providing quality education for all.
