NELFUND DISBURSES OVER N1B AS TUITION FEE TO 20,000 STUDENTS FROM INSTITUTIONS ACROSS THE COUNTRY 31-7-24
By Sadiq Aminu The Nigeria Education Loan Fund, NELFUND says over one billion Naira has been disbursed so far, as tuition fee to twenty thousand students from institutions across the country
The Managing Director of NELFUND, Mr. Akintunde Sawyer made this known. during a news briefing in Abuja.
He said the 20,000 students are from five institutions, as the disbursement which was ongoing, would be made to other students on resumption of the school session.
Mr. Sawyer stated that the fund was working on reviewing another 100 institutions whose applications had been received.
“NELFUND has been able to disburse students’institutional fees amounting to 1,172,388,340.00 for 20, 000 students across the country. Disbursement of other institutions will be made at the beginning of their sessions to ensure a transparent and equitable distribution of resources.”
He stated that an additional Eight hundred and fifty million Naira would be disbursed today, 31/7/24) to more institutions.
The Managing Director of NELFUND said the stipend for upkeep support which was optional, was being worked on for those that applied.
He said that the upkeep loan for each student was N250,000 per annum but paid installmentally.
Mr. Sawyer disclosed that a total of 260,000 loans had been approved for the upkeep support and institutions fee under the loan scheme.
On the safety of the fund, the Managing Director of NELFUND disclosed that the Agency was collaborating with the key security agencies such as he Nigerian Financial Intelligence Unit, the Department of State Services, DSS, the Economic and Financial Crimes Commission, EFCC and the Independent Corrupt Practices and Other Related Offences Commission, ICPC to ensure the funds get to those who actually need.
Mr. Sawyer also announced that the NELFUND would soon commence the skills programme to empower those who do not want to further their education.
“Furthermore, we are excited to announce that we will be launching a series of new skills programmes in the coming weeks. These programmes are designed to empower Nigerians with the knowledge and expertise needed to excel.
Mr. Sawyer maintained that the initiative highlights the government’s unwavering support for the advancement of education in Nigeria.