The Nigerian Educational Loan Fund (NELFUND) has announced the disbursement of N850 million to tertiary institutions across the country to assist with school fees. This latest allocation adds to the over N1.7 billion already distributed to around 20,000 students.
Akintunde Sawyer, the Managing Director of NELFUND, shared this news during a press briefing in Abuja. Sawyer stated, “The sum of N850 million will be transferred from NELFUND’s account to institutions today. This is in addition to the N1.7 billion previously disbursed.”
The initiative is expected to benefit approximately 1.2 million students and aligns with President Bola Tinubu’s administration’s goals for supporting education. This scheme is part of a broader effort to provide financial assistance to students and is a key component of the recently amended student loan bill signed by President Tinubu.