The Management of the Nigerian Education Loan Fund (NELFUND) says it has successfully disbursed monthly stipends for July to 20,371 students from six tertiary institutions.
Ibom Uche, director of finance and accounts, NELFUND, announced this on Monday in Abuja. Uche said the initiative underscored President Bola Tinubu’s commitment to support Nigerian students by ensuring financial stability throughout their academic pursuits.
A monthly payment of N20,000 was given as upkeep stipends to each of the beneficiary students.
He said students from institutions whose institutional fees had already been paid by NELFUND, have begun to receive their July upkeep stipends.
He listed the institutions as Bayero University Kano, Federal University, Dutsin-Ma, University of Ilorin and University of Benin. Others are the University of Ibadan and the University of Maiduguri.
Read also: Why we are not keen on students’ loan scheme – Undergraduates
“NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.
“It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.
“NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions,” he said.
He added that the fund would also ensure the timely disbursement of stipends for day-to-day expenses.
“It is noteworthy that the president on Sunday committed a further N50 billion from recovered proceeds of crime.
“NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfil its previous commitments to Nigerian students,” he said.
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