NELFUND Announces 6 Institutions for Student Loans

NELFUND has listed six institutions that will receive student loans. Discover which schools are included and the details of the loan program.

The disbursement of N2,026,163,340 as institutional fees by the Nigerian Education Loan Fund (NELFUND) has been distributed to six institutions on its list.

On Saturday, the fund’s official X handle published the release of the institutions.

The list of institutions comprises the University of Ibadan, Bayero University Kano, University of Ilorin, University of Benin, University of Maiduguri and Federal university Dutsinma in Katsina State.

Bayero University Kano received a disbursement of N853,775,000 from the fund. The University of Maiduguri was granted N589,001,500 while Federal University Dutsinma in Katsina State obtained N304,961,800.

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The University of Ibadan received a sum of N201,114,650; the University of Ilorin was granted N52,897,890 and the University of Benin got allocated N24,412.500.

In an earlier statement, the fund revealed that it was implementing a strategic initiative to alleviate financial constraints on students in need of funds and enable them to pursue their education.

To date, half of the 12 institutions have been fully compensated for their fees, which encompass more than 20,000 students.

These institutions have received a total disbursement of about N2,026,163,340.

According to the fund, these payments will guarantee that Nigerian students can pursue their academic endeavors without any hindrance, thereby promoting much-needed peace of mind for both the students and their families.