The management of the Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of monthly stipends for the month of July to 20,371 students from six tertiary institutions.
The agency announced this in a statement yesterday in Abuja by its Director Finance and Accounts, Mr. Ibom Uche.
Uche said the initiative underscored President Bola Tinubu’s unwavering commitment to support Nigerian students by ensuring financial stability throughout their academic pursuit.
The News Agency of Nigeria (NAN) reports that a monthly payment of N20,000 was given as upkeep stipends to each of the beneficiary students.
Uche said students from institutions whose fees had already been paid by NELFUND, had begun to receive their July upkeep stipends.
He listed the institutions as Bayero University in Kano (BUK), the Federal University at Dutsin-Ma (FUDMA), University of Ilorin (Unilorin), and University of Benin (UniBen).
Other, he said, are University of Ibadan (UI) and University of Maiduguri (UniMaid).
“NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.
“It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.”
“NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions,” the statement said.
It promised that the fund would also ensure the timely disbursement of stipends for the day-to-day expenses of students.
“It is noteworthy that the President, on Sunday, committed a further N50 billion from recovered proceeds of crime.
“NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfill its previous commitments to Nigerian students,” the statement added.
