The Nigerian Education Loan Fund (NELFUND) said it has disbursed about N35 billion to 261,000 students in the country.

The Managing Director of NELFUND, Mr. Akintunde Sawyerr, stated this at a sensitisation programme for Edo students at the Edo University Iyamoh on Thursday.

“So far in Nigeria, we have disbursed over N22 billion in institutional fees, which is money paid to institutions while we have disbursed about N11 billion in upkeep that goes up every month, which amounted to about N35 billion in total,” he disclosed.

Sawyerr disclosed that NELFUND has received about 520,000 registrations and about 419,000 applications, adding that it has processed and paid 261,000 students both upkeep and institutional fees.

The NELFUND MD noted that the organisation is well-funded to pay Nigerian students as long as they are eligible students of any institution in the country.

“So far we are very well funded, the political will demonstrated by Mr President to allow us access to funds outside the statutory allocation is well commended. The law provides for us to raise funds from nongovernmental quarters and I think it is fair to say many Nigerians are helping students with their school fees,” he said.

The state commissioner for education, Dr. Emmanuel Paddy, expressed displeasure over the low number of Edo students applying for the loan.

He said the number of students who have benefitted in the state is relatively low and urged them to take advantage of the loan scheme.

“We have cause to be worried that is why we are having this sensitisation programme so that we can bring our people up to speed so that they can benefit from the programme which is laudable and it is going to be highly beneficial to them,” he said.

Earlier, the Acting Vice Chancellor of Edo University Iyamho, Prof. Dawood Egbefo, said 51 students of Edo University Iyamoh have so far benefited from the Federal Government student loan.

“It will interest you to know that since subscribing to the NELFUND programme, the sum of N61.4 million has been disbursed with 51 students as beneficiaries,” he said.

The acting VC thanked President Tinubu for the support, growth, and advancement of education in Nigeria.

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