The Nigerian Education Loan Fund (NELFUND) has confirmed the payment of July stipends to 20,371 student loan recipients across six participating tertiary institutions.
As disclosed by Ibom Uche, Director of Finance and Accounts, in a statement issued on Monday, each beneficiary received a stipend of N20,000.
He said a total of 20,371 students across Bayero University Kano (BUK), Federal University, Dutsin-Ma (FUDMA), University of Ilorin (UNILORIN), University of Benin (UNIBEN), University of Ibadan (UI), and University of Maiduguri (UNIMAID) were paid.
NELFUND had earlier stated that it had paid the tuition fees for the students in these six tertiary institutions.
Uche said the payment process for students from 55 additional tertiary institutions will soon commence.
“This initiative further underscores H.E. President Bola Ahmed Tinubu’s promised unwavering commitment to supporting Nigerian students by ensuring financial stability throughout their academic pursuit, the statement reads in part,” he said.
“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 and ensuring the timely disbursement of stipends for day-to-day expenses.
“It is noteworthy that the President only Sunday committed a further 50 billion Naira from recovered proceeds of crime.
“NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfil its previously made commitments to Nigerian students.”
Last week, NELFUND said it had disbursed over N2.5 billion in the student loan scheme.
