NELFUND Disburses N303bn to Support Nigerian Students
The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, announced that the fund has disbursed N303 billion to nearly one million Nigerian students in tertiary institutions since its establishment two years ago. Over one-and-a-half million applications have been received, with 850,000 students benefiting from the scheme.
Initiated by President Bola Ahmed Tinubu's administration, NELFUND aims to increase access to tertiary education and reduce financial burdens on families. The fund employs a segmented disbursement model, exemplified by a ₦3.039 billion allocation to Bayero University Kano (BUK) for 27,640 students.
Despite facing administrative challenges, including procedural delays and low awareness in remote areas, NELFUND seeks to provide critical support for students facing economic hardships. The scheme transfers funds directly to institutions to ensure financial transparency and prevent misuse of funds intended for education.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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