We’ve disbursed N33bn loans to 261,000 students — NELFUND MD Sawyer
The Nigerian Education Loan Fund, NELFUND, has disclosed that it has so far disbursed about N33 billion to 261,000 students across the country.
Salient Times reports that the Managing Director of the federal agency, Mr Akintunde Sawyer, made this known on Thursday at a sensitisation programme for students in the Edo North Senatorial District, organised in conjunction with the State Ministry of Education.
The sensitisation programme was held at Edo University, Iyamho, in Etsako West Local Government Area.
Sawyer stated that out of the total amount disbursed, over N22 billion has been allocated for institutional fees, while about N11 billion has been disbursed for students’ monthly upkeep, bringing the total to approximately N33 billion.
The NELFUND boss also revealed that the agency has received about 520,000 registrations and approximately 419,000 applications. So far, it has processed and paid both institutional fees and upkeep allowances to 261,000 students.
He assured that NELFUND has sufficient funds to support Nigerian students, provided they meet the eligibility criteria as students of any recognised tertiary institution in the country.
According to him, “So far, we are very well funded. The political will demonstrated by Mr President to allow us access to funds beyond statutory allocations is highly commendable.
“The law allows us to raise funds from non-governmental sources, and I think it is fair to say that many Nigerians are supporting students with their tuition fees.”
He further explained that some NGOs are now injecting funds into NELFUND to enable the agency to allocate resources in line with its mandate and mission.
Sawyer also noted that many individuals are keen to give back to the country but previously lacked a proper platform through which to do so.
