The Nigerian Education Loan Fund (NELFUND) has given a breakdown of how it disbursed the sum of N2,026,163,340 as institutional fees to six tertiary institutions in the country.
Nasir Ayitogo, NELFUND’s Head of Press, in a statement disclosed that six institutions have already received full payment of their institutional fees, covering over 20,000 students, while the remaining six will receive their payments soon.
The institutions include: the University of Ibadan, Bayero University Kano, University of Ilorin, University of Benin, University of Maiduguri and Federal University Dutsinma, Katsina State.
The Fund gave the breakdown of the amount among the six institutions as follows:
1. Bayero University Kano N853,775,000
2. University of Maiduguri N589,001,500
3. Federal University Dutsinma, Katsina State N304,961,800
4. University of Ibadan N201,114,650
5. University of Ilorin N52,897,890
6. University of Benin N24,412,500
In addition to the institutional fees, the management disclosed that it has also commenced payment of upkeep stipends to students, with N442 million allocated for the month of July.
Ayitogo said the upkeep payments will benefit all 22,120 students across the 12 institutions, with more to come in the coming weeks and months.
He also added that the agency believes that the disbursements will “significantly ease the financial burdens on students and their families, enabling them to focus on their studies and future careers.”
“The Fund wants to use this medium to clarify to the general public that disbursements are made based on each institution’s academic calendar (beginning of session)” he added.
