The Nigeria Education Loan Fund (Nelfund) announced that nearly $33 billion of students have been paid to 261,000 students nationwide.
Managing Director of Federal Agency, Our Akinto Saw, This information was shared on Thursday during a sensitization event for students in the Edo Kita Senator District organized in partnership with the state’s Ministry of Education.
Naija News The report said the event was held at Iyamho Edo University in the Etsako West local government area.
Sawyer said that over 22 billion institution expenses have been specified in the total allocated funds, while about $11 billion in students’ monthly living expenses allocated about $11 billion, which ended up being about 33 billion.
In addition, Nelfund directors revealed that the agency has received approximately 520,000 registrations and processed approximately 419,000 applications. To date, it has successfully processed and provided institutional fees and living allowances to 261,000 students.
Sawyer stressed that Nelfund has sufficient resources to assist Nigerian students as long as they meet the eligibility requirements for participating in any recognized tertiary institutions in the country.
He added: “We have been rich in funds so far. The political will proved by Mr. President allows us to obtain funds beyond the legal allocation.
“The law allows us to raise funds from non-government resources and I think it’s possible to say that many Nigerians are providing tuition for students.”
He elaborated on the fact that specific NGOs are currently contributing financial resources to Nelfund, allowing the agency to allocate funds through its goals and mission.
Sawyer also observed that many people were eager to contribute to the country, but had not previously had the proper platform to facilitate their efforts.
