The Nigerian Education Loan Fund (NELFUND) has disbursed approximately N33 billion to 261,000 students across the country, according to its Managing Director, Mr. Akintunde Sawyer.
Speaking on Thursday during a sensitization programme for students in the Edo North Senatorial District, Sawyer revealed that over N22 billion of the total disbursement was allocated for institutional fees, while about N11 billion was distributed for students’ monthly upkeep. The event, organized in collaboration with the Edo State Ministry of Education, was held at Edo University, Iyamho, in Etsako West Local Government Area.
Providing further details, Sawyer disclosed that the agency has received around 520,000 registrations and processed approximately 419,000 applications, with institutional fees and upkeep allowances already paid to 261,000 students.
He assured that NELFUND has sufficient financial resources to support Nigerian students, as long as they meet the eligibility criteria for enrollment in any recognized tertiary institution.
“So far, we are very well funded. The political will demonstrated by Mr. President to allow us access to funds beyond statutory allocations is highly commendable,” Sawyer stated.
He emphasized that the law permits NELFUND to secure funding from non-governmental sources, highlighting that many Nigerians are now contributing towards students’ tuition fees.
“Many individuals have always wanted to give back to the country but lacked a proper platform. Now, some NGOs are injecting funds into NELFUND, enabling us to allocate resources in line with our mandate and mission,” he added.
