The House of Representatives Tuesday reaffirmed its commitment to the effective oversight and success of the Nigerian Education Loan Fund (NELFUND) as it commences the distribution of monthly stipends to students.
The House said through oversight mechanisms, it discovered that NELFUND, under the leadership of the managing director,Mr. Akintunde Sawyerr, has commenced disbursing N20,000.00 monthly stipends for July to 20,371 students across six tertiary institutions.
The House said it is a testament to the federal government’s commitment to break financial barriers in higher education.
Additionally, NELFUND is diligently working to extend the payment process to students from approximately 55 more tertiary institutions in the coming weeks.
Chairman of the House Committee on Student Loan, Scholarship, and Higher Education Financing, Gboyega Isiaka, stated that, “The operationalisation of NELFUND represents a significant step forward in our approach to educational support. It is designed to alleviate financial burdens, allowing students to focus on their academic endeavors.”
NELFUND has approved and disbursed over N2, 530,235,750 in student loans, benefiting 22,120 students across 12 institutions. Approximately N2,026, 163,340 has been disbursed as full payment of institutional fees to over 20,000 students in six institutions.
Students across the federation are encouraged to take full advantage of the benefits available by applying through the NELFUND portal at http://nelf.gov.ng.
Institutions that are yet to submit complete student data are also urged to do so promptly to ensure their students can access the programme.
