The Nigerian Education Loan Fund (NELFUND) has made a significant impact on education in Nigeria, disbursing a total of N23 billion to 128 tertiary institutions and numerous individuals.
This initiative, set up by the federal government, aims to prevent students from dropping out of school due to financial constraints.
According to Akintunde Sawyerr, managing director of NELFUND, N18 billion has been channeled to institutions, while about N5 billion has been disbursed for students’ upkeep.
This support has been instrumental in helping students cover tuition fees and living expenses.
Key Highlights of NELFUND’s Disbursement
– 326,000 applicants: A significant number of individuals have applied for the loan, demonstrating the need for financial support in Nigeria’s education sector.
– N23 billion disbursed: The total amount disbursed to institutions and individuals, making a substantial impact on education in Nigeria.
– 128 tertiary institutions benefited: A wide range of institutions have received funding, ensuring that students across Nigeria have access to financial support.
NELFUND’s efforts have been instrumental in promoting education in Nigeria, and the organization plans to continue supporting students in the future.
