The Nigerian Education Loan Fund (NELFUND), has confirmed the disbursement of student loan funds to four tertiary institutions across Nigeria, according to a post shared on X (formerly Twitter).
The government body, which is tasked with carrying out the student loan program that President Bola Tinubu authorized last year, made the announcement on June 21.
In the announcement, NELFUND wrote:
“We are pleased to announce the disbursement of student loan funds to the following institutions under the NELFUND Student Loan Program:
1.ABRAHAM ADESANYA POLYTECHNIC
₦3,057,500 disbursed to 28 students
2.FEDERAL UNIVERSITY OF EDUCATION, ZARIA
₦9,489,050.00 disbursed to 242 students
3.AKWA IBOM STATE POLYTECHNIC
₦5,081,000.00 disbursed to 75 students
4.IGNATIUS AJURU UNIVERSITY OF EDUCATION
₦20,605,500.00 to 171 students”.
The body underlined its dedication to providing interest-free loans, accessibility, and equal learning opportunity. “We remain committed to supporting students across Nigeria in achieving their academic goals,” it added.
Akintunde Sawyerr, the managing director, has emphasized time and time again how crucial timely and transparent distribution is to preserving the integrity of the student loan program. He has also asked institutions to preserve beneficiary data accurately and deliver monies promptly.
The government’s efforts to lower financial obstacles and improve educational attainment through easily available and long-lasting funding mechanisms are expected to benefit more Nigerian students with this most recent tranche.
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