On August 6th, 2024, the Nigerian Education Loan Fund (NELFUND) announced the successful disbursement of N20,000 monthly upkeep stipends for July to 20,371 students across six tertiary institutions.
The announcement was made by Ibom Uche, Director of Finance and Accounts at NELFUND, during a press briefing in Abuja. The beneficiary institutions include Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri.
Uche highlighted that the disbursement process has already commenced for these institutions, with plans to extend the payment process to approximately 55 additional tertiary institutions within the next two weeks. This expansion aims to ensure that all eligible students receive their stipends promptly.
In addition to the upkeep stipends, President Tinubu has committed a further N50 billion from recovered proceeds of crime to support the initiative. This move is part of a broader effort to provide financial assistance for students' day-to-day expenses and educational aspirations.
Mr. Akintunde Sawyerr, Managing Director of NELFUND, emphasized the organization's dedication to fulfilling its commitments to Nigerian students. He expressed appreciation for the patience and cooperation of both students and institutions as NELFUND works diligently to ensure timely disbursements.
This significant financial support highlights the government's ongoing efforts to enhance the educational experience and financial well-being of Nigerian students.
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