The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of N2,026,163,340 to six selected institutions as part of its efforts to alleviate the financial burden on students.
News About Nigeria understands that this move aims to enable students who require financial assistance to continue their education without interruptions.
The list of beneficiary institutions was made public on the fund’s official social media handle, revealing that the University of Ibadan, Bayero University Kano, University of Ilorin, University of Benin, University of Maiduguri, and Federal University Dutsinma in Katsina State are among the recipients.
A breakdown of the disbursement shows that Bayero University Kano received the largest share of N853,775,000, followed by the University of Maiduguri with N589,001,500, and Federal University Dutsinma, Katsina State, with N304,961,800.
The University of Ibadan received N201,114,650, while the University of Ilorin and the University of Benin received N52,897,890 and N24,412,500.
NELFUND’s initiative is designed to support students who are struggling financially, allowing them to focus on their academic pursuits without the added stress of financial constraints.
With this disbursement, over 20,000 students across the six institutions will benefit, enabling them to continue their education without interruption.
The fund’s statement highlighted the significance of this effort, emphasising that the disbursements will provide students and their families with peace of mind, allowing them to concentrate on their academic activities without worrying about financial burdens.
Mr Akintunde Sawyerr, the Managing Director also debunked reports about making deductions from the disbursement to students, saying the students got the exact amount they applied.
