The Nigerian Educational Loan Fund (NELFUND) has announced the disbursement of ₦850 million to tertiary institution students today.
This was revealed by the Managing Director of NELFUND, Akintunde Sawyer, during a press briefing in Abuja.
“Today, ₦850 million will be leaving the account of NELFUND to institutions,” Sawyer stated. “This is apart from the ₦1.7 billion that has already been disbursed.”
According to Sawyer, the Fund has already provided institutional fees to 20,000 students and has approved a total of 260,000 loans covering both institutional fees and upkeep. Over 1.2 million students are expected to benefit from this initiative, which is a key program of President Bola Tinubu’s administration.
President Tinubu approved ₦35 billion for the scheme’s launch after signing the supporting law on April 3.
