The Nigerian Education Loan Fund (NELFUND) has disbursed monthly stipends of N20,000 for July to 20,371 students across six tertiary institutions.
Mr Akintunde Sawyerr, Managing Director of NELFUND, said the disbursement reinforces President Bola Ahmed Tinubu’s commitment to supporting Nigerian students by ensuring financial stability throughout their academic journey.
According to a statement from the fund, signed by Director of Finance and Accounts, Mr Ibom Uche, students from the institutions whose fees have been paid by NELFUND have started receiving their July stipends.
The institutions include Bayero University Kano; Federal University Dutsin-Ma, Katsina; University of Ilorin, Kwara State; University of Benin, Edo State; University of Ibadan, Oyo State and University of Maiduguri, Borno State.
Uche said NELFUND was also working to initiate the payment process for students from about 55 additional tertiary institutions, with completion anticipated within the next two weeks.
Mr Sawyerr emphasised that NELFUND remains dedicated to supporting the educational aspirations of Nigerian students by providing financial assistance for their studies and ensuring timely disbursement of stipends for daily expenses.
Additionally, the president has committed a further N50 billion from recovered proceeds of crime to support the initiative.