The management of the Nigerian Education Loan Fund (NELFUND) has provided an update on the continued disbursement of substantial student loans to institutions and students nationwide. According to the Fund, it has now approved student loans totaling over N2,530,235,750, which are being disbursed across various institutions, benefiting 22,120 students.

Nasir Ayitogo, Head of Media and Public Relations at NELFUND, announced this in a statement on Friday in Abuja. He noted that this initiative aligns with President Bola Ahmed Tinubu’s commitment to enhancing educational opportunities for Nigerians.

“In the light of the foregoing, NELFUND has so far further approved student loans amounting now to over N2,530,235,750, being disbursed across many institutions, benefiting 22,120 students.

“This strategic effort aims to ensure that students who really need the funds can continue their education by lowering the burden of financial constraints,” he stated.

Ayitogo, explained that so far, six of the twelve institutions have received full payment of their institutional fees, covering over 20,000 students, stating the total amount disbursed to these institutions stands at approximately N2,026,163,340.

“A further six will receive their payments in the coming week. These disbursements will ensure that Nigerian students can proceed with their academic activities unimpeded, fostering peace of mind much needed for these students and their families,” he added.

In addition to Unilorin and Uniben, the other universities that received payments include the University of Ibadan (UI), Bayero University Kano, University of Maiduguri, and Federal University, Dutsin-Ma.

The disbursement of student loan payments to these universities marks a significant milestone in making higher education more accessible and affordable in Nigeria. As students and universities celebrate this development, the broader educational landscape anticipates further support systems that will empower the nation’s future leaders.