NELFUND Chief Sawyerr Announces N174 Billion Disbursement for Nigerian Tertiary Education

The Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Sawyerr, revealed that the federal government has disbursed N174 billion to 263 tertiary institutions, benefiting 800,000 students. The student loan scheme, launched in May 2024, aims to provide financial support to Nigerian youths pursuing higher education, with N100 billion directly paid to institutions for school fees and N70 billion released monthly for student upkeep.

Sawyerr highlighted the initiative's role in addressing poverty-related barriers to tertiary education and emphasized the need for investing in young people. Ogun State Institute of Technology in Igbesa has already seen 200 students benefit from the scheme, with 400 more applicants for the upcoming academic sessions.