The Nigerian Education Loan Fund announced it has disbursed more than N2.5 billion in tuition fees to 12 institutions throughout the country.
Nasir Ayitogo, the Fund’s spokesman, said in a statement issued Friday in Abuja that the exercise benefited 22,120 students.
According to Mr Ayitogo, the gesture was consistent with President Bola Tinubu’s commitment to improving educational opportunities for Nigerians.
He stated that the strategic effort intended to ensure that students who truly needed the cash could continue their studies while reducing the burden of financial constraints.
Mr Ayitogo stated that the disbursements were made following each institution’s academic schedule from the beginning of the session.
He said, “So far, six of the 12 institutions have received full payment of their institutional fees, covering over 20,000 students. The total amount disbursed to these institutions stands at approximately N2,026,163,340. A further six will receive their payments in the coming week. 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.’’
Mr Ayitogo said NELFUND had also commenced the payment of upkeep to students in addition to the institution fees.
According to him, this initiative will provide essential financial support for living expenses as N442 million has been allocated for the month of July.
He added, “The upkeep payments will benefit all 22,120 students across the 12 institutions, with more to come in the coming weeks and months. This is reflecting the federal government’s commitment to the overall well-being and academic success of Nigerian students in government institutions. These figures highlight NELFUND’s unwavering dedication to ensuring that financial constraints do not impede academic pursuits. NELFUND believes that these disbursements will significantly ease the financial burdens on students and their families, enabling them to focus on their studies and future careers.’’