Nigerian Students To Receive N850m Loan Today
The Nigerian Educational Loan Fund (NELFUND) has announced the disbursement of N850 million to educational institutions today, Wednesday. This follows the previous payout of N1.7 billion to approximately 20,000 students.
Akintunde Sawyer, the Managing Director of NELFUND, disclosed this during a press briefing in Abuja. He confirmed that the new funds would be transferred to institutions today, bringing the total disbursement to N2.55 billion.
Sawyer highlighted that a total of 260,000 loans, covering both institutional fees and upkeep, have been approved. Over 1.2 million students are expected to benefit from this initiative.
The Nigerian Educational Loan Fund, aimed at providing financial support to students, was made possible by President Bola Tinubu’s approval of N35 billion on April 3.
