The Nigerian Education Loan Fund (NELFund) has successfully disbursed over ₦2.5 billion in institutional fees to twelve schools across the country, benefiting 22,120 students. In a statement released on Friday, NELFund spokesperson Nasir Ayitogo noted that this initiative supports President Bola Tinubu’s goal of expanding educational opportunities and aims to alleviate financial barriers for students, allowing them to continue their education without interruption.
Ayitogo explained that the funds were distributed based on each institution’s academic calendar, with six of the twelve schools receiving full payment for over 20,000 students, totaling approximately ₦2,026,163,340. The remaining six schools are set to receive their payments within the next week.
Additionally, NELFund has started providing financial support for student living expenses, allocating ₦442 million for July. This assistance will cover the living costs of all 22,120 students at the participating institutions.
Ayitogo emphasized that this effort reflects the federal government’s commitment to supporting Nigerian students’ well-being and academic success, expressing confidence that these disbursements will ease financial pressures and help students focus on their studies and future careers.
Peoplesmind