The Management of the Nigerian Education Loan Fund (NELFUND) has successfully disbursed N20,000 monthly stipends for July to 20,371 students from six tertiary institutions.

The beneficiaries are from Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri. These students have already had their school fees covered by NELFUND and are now receiving their upkeep stipends.

In a press statement released on Monday, Mr. Ibom Uche, the Director of Finance and Accounts, announced that NELFUND is diligently working to begin 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,” the statement read.

Mr. Uche emphasized NELFUND’s dedication to supporting the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions and ensuring the timely disbursement of stipends for day-to-day expenses. He also noted that the President recently committed an additional 50 billion Naira from recovered proceeds of crime to the fund. He noted that the organization are working diligently to fulfill its commitments to Nigerian students.