NELFUND disburses N84.2 billion to 258,943 students — Reps member

Mr Gboyega Isiaka, Chairman of the House of Representatives Committee on Polytechnic and Higher Technical Education, has revealed that the Nigerian Education Loan Fund, NELFUND, has disbursed N84.2 billion to applicants as of September 2024, with N27.5 billion and N56.7 billion in institutional and upkeep facilities, respectively.

Isiako, who made the announcement at the 36th annual conference of the Federal Government College, Maiduguri Old Students Association, held in Abeokuta, Ogun State, said 351,317 students registered on the NELFUND portal, with 258,943 applying for either an institutional or upkeep loan, or both.

The lawmaker spoke on Empowering The Next Generation: Education As a Catalyst For National Development (Student Loans Access To Higher Education Act 2024 in Perspective)

He noted that the Students Loan Access to Higher Education Act, of 2024, aims to bridge the financial gap, ensuring that deserving students have access to quality higher education.

Isiaka, who is representing Yewa North/Imeko-Afon Federal Constituency of Ogun State, said:  “As at the end of September 2024, the Nigerian Education Loan Fund has made tremendous progress under President Bola Tinubu’s administration, paving the way for a brighter future for our nation’s students.

“Figures speak for itself. 351,317 students have registered on the NELFUND portal out of which 258,943 have applied for either institutional or upkeep loans or both.

“A total of N84.2 billion have so far been disbursed to the applicants comprising of N27.5 billion and N56.7 billion in institutional and upkeep facilities respectively.”