The Nigerian Education Loan Fund (NELFUND) is set to disburse ₦850 million today to support students in universities and polytechnics across the country.
This announcement was made by the Managing Director/CEO of NELFUND, Akintunde Sawyerr, during a press briefing in Abuja on Wednesday.
“The sum of ₦850 million will be leaving the account of NELFUND today to institutions,” Sawyerr stated.
“This is apart from the ₦1.7 billion that has already been disbursed to about 20,000 students.”
This latest disbursement follows a significant effort by NELFUND to ensure that higher education is accessible to all deserving Nigerians.
“This occasion marks a testament to our shared commitment to ensuring that higher education is accessible to all deserving Nigerians,” Sawyerr emphasised.
Earlier this year, President Bola Ahmed Tinubu’s administration approved ₦35 billion for the take-off of this student loan scheme, demonstrating the government’s dedication to empowering the nation’s youth through education.
“Under his administration, we have seen a renewed focus on the empowerment of our youth through education,” Sawyerr remarked.
“Today’s announcement is a direct result of his commitment to this cause.”
So far, 260,000 loans, covering both institutional fees and upkeep, have been approved.
The Fund says these loans benefit students in selected institutions, chosen based on their academic calendars to ensure a fair distribution of resources.
“Disbursement to other institutions will be made at the beginning of their sessions,” Sawyerr explained.
In addition to tuition fees, NELFUND also provides monthly upkeep stipends to students.
“The payment of upkeep stipends will be conducted in the coming week with the utmost transparency and security,” Sawyerr assured.
The fund says it has partnered with the Nigerian Financial Intelligence Unit (NFIU), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to oversee the secure and transparent disbursement process.
Sawyerr also acknowledged the invaluable support of various partners and institutions in setting up a robust system for fund management and disbursement.
“Their collaboration has been instrumental in ensuring that the process is smooth and that the students receive their funds promptly,” he said.
Recently, in response to challenges encountered by some students with the Student Loan Application portal, NELFUND provided detailed solutions and advised affected students to contact their institution’s ICT department.
This proactive approach underscores NELFUND’s commitment to resolving any issues and ensuring that all eligible students can benefit from the loan scheme.
So far, NELFUND has onboarded an additional 86 institutions.
List Of Onboarded Institutions:
1. Abia State Polytechnic
2. Abraham Adesanya Polytechnic
3. Adamawa State Polytechnic, Yola
4. Adamawa State University, Mubi
5. Adekunle Ajasin University, Akungba-Akoko, Ondo State
6. Adeseun Ogundoyin Polytechnic, Eruwa, Oyo State
7. Akwa Ibom State Polytechnic
8. Akwa Ibom State University
9. Aliko Dangote University of Science and Technology, Wudil
10. Aminu Saleh College of Education, Azare
11. Bamidele Olumilua University of Education, Science and Technology
12. Benjamin Uwajumogu State College of Education, Ihitte Uboma
13. Benue State University, Makurdi
14. Borno State University
15. College of Education, Afaha Nsit
16. College of Education, Waka-Biu
17. Confluence University of Science and Technology
18. Cross River State University
19. D.S. Adegbenro ICT Polytechnic, Itori-Ewekoro
20. Delta State Polytechnic, Ogwashi-Uku
21. Delta State University of Science and Technology
22. Dennis Osadebay University, Asaba
23. Ebonyi State University, Abakaliki
24. Edo State University, Uzairue
25. Ekiti State University, Ado Ekiti
26. First Technical University, Ibadan
27. Gateway ICT Polytechnic, Saapade
28. Gombe State University
29. Government Technical College, Ile-Ife
30. GTC, Ara, Osun State
31. GTC, Gbongan, Osun State
32. GTC, Ijebu-Jesa, Osun State
33. GTC, Ile-Ife, Osun State
34. GTC, Inisa, Osun State
35. GTC, Iwo, Osun State
36. GTC, Otan Ayegbaju, Osun State
37. GTC, Osu, Osun State
38. Ibrahim Badamasi Babangida University, Lapai
39. Ignatius Ajuru University of Education, Port Harcourt
40. Imo State Polytechnic, Omuma
41. Imo State University of Agriculture and Environmental Sciences, Umuagwo
42. Isa Mustapha Agwai Polytechnic, Lafia
43. Kaduna State College of Education, Gidan Waya
44. Kaduna State University
45. Katsina State Institute of Technology and Management
46. Kebbi State University of Science and Technology, Aliero
47. Kingsley Ozumba Mbadiwe University
48. Kwara Polytechnic
49. Kwara State College of Education, Oro
50. Ladoke Akintola University of Technology, Oyo
51. Lagos State University
52. Lagos State University of Education
53. Lagos State University of Science and Technology
54. Mai Idris Alooma Polytechnic, Gaidam, Yobe State
55. Mohammet Lawan College of Agriculture
56. Nasarawa State University, Keffi
57. Niger Delta University
58. Niger State Polytechnic, Zungeru
59. Nuhu Bamalli Polytechnic, Zaria
60. Ogun State Institute of Technology, Igbesa
61. Olabisi Onabanjo University
62. Osun State College of Education, Ila-Orangun
63. Osun State College of Technology
64. Osun State Polytechnic, Iree
65. Osun State University
66. Oyo State College of Agriculture and Technology, Igboora
67. Oyo State College of Health Science and Technology, Eleyele, Ibadan
68. Oyo State College of Nursing Sciences, Eleyele
69. Plateau State University, Bokkos
70. Port Harcourt Polytechnic
71. Prince Audu Abubakar University, Anyigba
72. Ramat Polytechnic, Maiduguri
73. Sule Lamido University, Kafin Hausa, Jigawa State
74. Tai Solarin University of Education
75. Taraba State College of Nursing Sciences, Jalingo
76. Taraba State Polytechnic
77. Taraba State University, Jalingo
78. Umar Musa Yar’adua University, Katsina
79. University of Delta, Agbor