The Nigerian Education Loan Fund (NELFund) has announced the successful disbursement of more than ₦2.5 billion in institutional fees to twelve schools nationwide, benefiting 22,120 students.
In a statement released on Friday, Nasir Ayitogo, the Fund’s spokesperson, emphasized that this initiative aligns with President Bola Tinubu’s goal of expanding educational opportunities for Nigerians. The move aims to alleviate financial constraints for students, ensuring they can continue their education uninterrupted.
Ayitogo detailed that the funds were allocated according to each institution’s academic calendar, with six out of the twelve schools receiving full payment covering over 20,000 students. The total disbursed amount to these institutions is approximately ₦2,026,163,340. The remaining six schools are expected to receive their payments in the upcoming week.
In addition to covering institutional fees, NELFund has begun distributing financial support for student upkeep, with ₦442 million allocated for July. This support will assist all 22,120 students at the participating institutions with their living expenses.
Ayitogo highlighted that this initiative underscores the federal government’s commitment to the well-being and academic success of Nigerian students. He expressed confidence that these disbursements will ease financial pressures on students and their families, allowing them to concentrate on their studies and future career prospects.
