NELFUND reinstates commitment to education development

…disburses N419.72 million to 3,032 students of Federal University, Lafia

The Nigeria Education Loan Fund (NELFUND) has reinstated the organisation’s commitment to education development and brightening the futures of Nigerian students through its crucial loan support.

The agency made this known via its official X handle @NELFUND when it posted “We @NELFUND are proud to announce the successful disbursement of N419.72 million to 3,032 deserving students at the Federal University, Lafia. We are committed to empowering education and brightening futures through this vital support.”

In a letter of confirmation signed by Shehu Abdu-Rahman, the vice-chancellor of the university, he expressed heartfelt appreciation for the successful disbursement.

“I write to confirm and express our heartfelt appreciation for the successful disbursement of funds to our institution under the Nigeria Education Loan Fund (NELFUND) programme.

“Your organisation’s efficiency and dedication to supporting education are commendable. NELFUND’s impact on our students’ academic pursuits is invaluable. Thank you for your commitment to education development. Please, accept the assurances of my esteemed regards.”

This is coming a few days after NELFUND announced that the organisation has disbursed the sum of N23 billion to 128 tertiary institutions and individuals across the country.

Akintunde Sawyerr, the managing director at NELFUND disclosed this while speaking to senior journalists in Lagos recently when he said that N18 billion has been channelled to the institutions while about N5 billion has been disbursed for students’ upkeep.

“So far, we have had 326,000 individuals apply for the loan. A total of about N23 billion has left our account and gone to the accounts of the institutions and the accounts of individuals,” he said.

NELFUND was set up by the federal government to ensure that students who are in school do not drop out due to lack of funds.

Students register for loans online, and the approval process happens online.

“NELFUND is saddled with the responsibility of providing loans to Nigerian citizens who can gain admission, or already have admission into tertiary institutions owned by the government, both at federal and state ownership levels.

“So, students who are Nigerian citizens, who are either already in those institutions or in future gain admission into institutions, can apply for loans. And we can provide those loans for their tuition or their institutional charges, and we are also able to provide them with stipends, or pocket money, if you like,” Sawyerr said.

The Nigeria Education Loan Fund is a pivotal intervention by President Bola Tinubu’s administration that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.