NELFUND disburses over N5bn student loans to 59 tertiary institutions

The Nigerian Education Loan Fund (NELFund) has disbursed over N5.093billion institutional fees to 59 federal and state tertiary institutions, even as it has commenced sensitisation campaigns to schools.

This comes as 45,440 beneficiaries have received institutional fees from the Fund.

The Guardian reports that NELFUND has so far visited 10 tertiary institutions including Chukwuemeka Odumegwu Ojukwu University, Igbariam, Anambra State; Federal Polytechnic, Nekede, Imo State; Micheal Okpara University of Agriculture, Umudike, Abia State; Ladoke Akintola University of Technology, Ogbomosho and Ignatius Ajuru University of Education, Port Harcourt.

Institutions visited are the University of Calabar;  Akwa Ibom State Polytechnic, Ikot Ekpene; University of Port Harcourt; Niger Delta University, Amasomma, Bayelsa State as well as Federal University of Petroleum Resources, Effurun, Delta State.

The Fund indicated that the sensitisation campaign jointly organised with the leadership of NANS, was intended to enlighten the schools and their students about the programme, its intended objectives, and how they could leverage it to improve access to education.

Speaking at the University of Port Harcourt, NELFUND Managing Director, Akintunde Sawyerr, highlighted the importance of the programme in helping Nigerian students overcome financial barriers to education.

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Sawyerr said the sensitisation programme was to encourage students who may be hesitant to apply due to a lack of understanding of the scheme.

He said the Fund has been empowered to reach every nook and cranny of the country, ensuring that no region is marginalised.

He stressed the need for students to take full advantage of the loan scheme, which provides both tuition and monthly stipends for applicants.

The MD who was accompanied to UNIPORT by staff of the Fund including Executive Director Operations, Mustapha Iyal; Director Corporate Communications, Oseyemi Oluwatuyi; Special Assistant to the MD, Nasir Ayitogo as well as Senate President of NANS, Babatunde Akinteye; reiterated the Fund’s commitment to equitable distribution of the facility.

“This is about investing in your future, not just providing loans. It is an opportunity for you to focus on your studies without the distraction of financial concerns,” he said.

“Together, we can build a brighter future for our nation, one student at a time. NELFUND is here to ensure that your academic journey is not hindered by financial limitations.”

The first phase of the interest-free student loan scheme which commenced on May 24, 2024, is expected to benefit no fewer than 1.2 million students.

As of the time of filing this report, 45,440 applicants from 59 federal and state institutions have benefitted from the scheme, while over N5,093,110,671 has been disbursed as institutional fees.

Some of the institutions include Alex Ekueme Federal University, Anambra State; Federal Polytechnic, Nekede, Imo State; University of Ibadan; Delta State University, Abraka; Federal University Gusau Zamfara State; Bauchi State University; Yaba College of Technology, Lagos State; Niger State Polytechnic among others.

On his part, the Vice-Chancellor, University of Port Harcourt, Prof Owunari Georgewill lauded the Federal Government’s efforts to support students in furthering their education with ease.

While noting that the loan scheme was a significant step towards alleviating students’ financial burden, the Don encouraged them to take advantage of the opportunity and spend their monthly upkeep wisely.