NELFUND: N322bn disbursed to students since inception
The Nigerian Education Loan Fund (NELFUND) says it has disbursed N322 billion loan to students since inception of the scheme. Speaking in Uyo during the National Sensitisation Programme on the Nigerian Education Loan Fund (NELFUND) for the South-South, Managing Director/CEO of NELFUND, Akintunde Sawyer, said so far, 319 tertiary institutions in the country and 1.6 […]
Since its inception, the Nigerian Education Loan Fund (NELFUND) has released N322 billion in loans to students, benefiting over 1.6 million individuals and supporting 319 tertiary institutions nationwide. Akintunde Sawyer, Managing Director/CEO of NELFUND, made these revelations during a National Sensitisation Programme in Uyo. Sawyer emphasized that the fund's primary objective is to eradicate financial barriers that could hinder qualified students from availing themselves of the scheme.
In Akwa Ibom State, the fund has disbursed N2.1 billion to 23,473 applicants, who have subsequently received benefits worth N322 billion. The Governor of Akwa Ibom State, Pastor Umo Eno, commended the 10th Senate for their commitment to enhancing secondary education and for introducing the scheme directly to students. The Akwa Ibom State Government has further complemented NELFUND efforts by providing bursaries and increasing the loan amount for students from N20,000 to N50,000.
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