The Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of N20,000.00 monthly stipends for July to 20,371 students across six tertiary institutions.
The fund say the disbursement aligns with President Bola Ahmed Tinubu’s commitment to supporting Nigerian students by ensuring their financial stability during their academic pursuits.
A statement issued by NELFUND’s Nasir Ayitogo, on Monday, listed the institutions whose students have started receiving their upkeep stipends as:
1. Bayero University Kano
2. Federal University, Dutsin-Ma
3. University of Ilorin
4. University of Benin
5. University of Ibadan
6. University of Maiduguri
The statement adds, “NELFUND is working diligently to extend this payment process to students from approximately 55 additional tertiary institutions, with an anticipated completion within the next two weeks.
“The fund remains dedicated to ensuring that all eligible students receive their stipends promptly.
“This disbursement highlights NELFUND’s mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions and ensuring timely stipends for daily expenses.
“The President recently committed an additional 50 billion Naira from recovered proceeds of crime to further this mission.”
Mr. Ibom Uche, Director of Finance and Accounts at NELFUND, expressed appreciation for the patience and cooperation of students and institutions as the organization continues to fulfill its commitments to Nigerian students.
To date, NELFUND has approved student loans totaling over N2,530,235,750, benefiting 22,120 students across multiple institutions.
The statement says, “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.”
Six of the twelve institutions have received full payment of their institutional fees, covering over 20,000 students, with a total disbursement amounting to approximately N2,026,163,340.
The Fund clarifies that disbursements are made based on each institution’s academic calendar (beginning of session).
