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Federal Government Begins Distribution Of Nigeria Student Loan Fund

As Reported 6 Institutions Have Received Over ₦2bn Student Loan As the Federal Government Begins Distribution Of Nigeria Student Loan Fund Through (NELFUND) Join AfricaChoice here for more incentive

The Nigerian Education Loan Fund (NELFUND) has given a breakdown of how it disbursed the sum of N2,026,163,340 as institutional fees to six tertiary institutions in Nigeria.

In a post on its official Twitter X handle on Saturday, the Fund confirmed The Guardian story which listed the names of the six institutions of higher learning that got the fund.

The institutions include the University of Ibadan, Bayero University Kano, University of Ilorin, University of Benin, University of Maiduguri, and Federal University Dutsinma, Katsina State.

The report also said, more Universities will be receiving their Student fund within the months while applications are still open for new students interested in the Ngeria student loan application to apply

The report observed that while Bayero University Kano received the lion’s share of N853,775,000, the University of Benin got the least amount of N24,412,500.

The managing director of the Fund, Akintunde Sawyerr had earlier revealed that the institutional fees would cover over 20,000 students.

While they gave the funds breakdown list of the amount among the six institutions as follows below:

1. Bayero University Kano N853,775,000

2.
University of Maiduguri N589,001,500

3.
Federal University Dutsinma, Katsina State N304,961,800

4.
University of Ibadan N201,114,650

5.
University of Ilorin N52,897,890

6.
University of Benin N24,412,500

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