National Telescope national telescope newspaper
By Funmi Ojo, OYO |
The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N1.17 billion to 20,000 students across five public tertiary institutions.
This announcement was made by NELFUND’s Managing Director, Akintunde Sawyerr, during a news conference in Abuja on Wednesday.
Sawyerr also mentioned that an additional institution would be included in the beneficiaries list before the end of the day.
Sawyerr noted that NELFUND plans to increase the number of beneficiaries as more applications are processed.
He stated that the fund is currently reviewing applications from another 100 institutions, indicating a significant expansion in the near future.
The disbursement, according to Sawyerr, was facilitated by a directive from President Bola Tinubu.
He assured that NELFUND is committed to ensuring a transparent and equitable distribution of resources.
“We are working diligently to manage the funds efficiently and make sure every eligible student has access to the loan,” Sawyerr said.
He further disclosed that a total of 260,000 students had been approved for upkeep loans and payment of institutional charges. Each student is eligible to receive N250,000 per year under the current loan scheme.
However, Sawyerr noted that the programme is presently focused on undergraduate students, with plans to extend the scheme to include postgraduate students in the future.
This expansion aims to provide broader financial support and educational opportunities to Nigerian students.
With the ongoing efforts, NELFUND aims to alleviate the financial burdens faced by students in public tertiary institutions, thereby promoting higher education and skill development in the country.
The fund’s initiative is seen as a critical step towards enhancing access to education for all Nigerians, irrespective of their financial background.
