The Nigerian Education Loan Fund (NELFUND) says it had disbursed about N35 billion to 261000 students in the country. The Managing Director of NELFUND, Mr Akintunde Sawyerr, stated this at a sensitisation programme for Edo students held in Edo University Iyamoh, Edo, on Thursday.
The programme is in conjunction with the Edo State Ministry of Education.
“So far in Nigeria, we have disbursed over N22 billion in institutional fees, that is, money paid to institutions.
“We have disbursed about N11 billion in upkeep that goes up every month.
“So far, we have disbursed about N35 billion in total.
“We have received about 520,000 registrations and about 419000 applications.
“We have processed and paid 261000 students both upkeep and institutional fees,” Sawyeer said.
The NELFUND MD noted that the organization has enough funds to pay Nigerian students as long as they are eligible students of any institutions in the country.
“So far, we are very well funded; the political will demonstrated by Mr President to allow us access funds outside the statutory allocation is well commended.
“The law provides for us to raise funds from non-governmental quarters, and I think it is fair to say many Nigerians are helping students with their school fees.
“And some of this NGO is now injecting their funds into NELFUND for us to be able to deploy accordingly.
“Many people want to give in this country, but they don’t have a vehicle through wish to do that.
“NELFUND has become a channel for given, and I believe if we put the right structure in place as long as it seems to be honest and we are honest and transparent about how to deploy the funds,” he said.
The Edo Commissioner for Education, Dr. Emmanuel Paddy, expressed displeasure over the low number of Edo students applying for the loan.
The number of students who have benefited is relatively low.
The commissioner urged the students of the state to take advantage of programme so that they could benefit from 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,
“It is highly laudable, and it is going to be highly beneficial to them,” Iyamu said.
Earlier, the Acting Vice Chancellor of the institution, Prof. Dawood Egbefo, said 51 students of Edo University Iyamoh have benefited from the Federal Government student loan.
“It will interest you to know that since subscribing to the NELFUND programme the sum of N61.4million million has been disbursed with 51 students as beneficiaries.”
“Today sensitisation programme served as an opportunity to explore how NELFUND can continue to serve as a beacon of hope for students in Edo.
“I encourage all participants to take full advantage of this platform so that you can maximize the benefits of these funds,” Egbefo said.
The acting VC thanked President Tinubu for the support, growth, and advancement of education in Nigeria.
“I would like to express our deep gratitude to President Nola Tinubu for his leadership and unwavering support for the growth of education in Nigeria.
“His vision for a more prosperous and educated nation inspires it all,” he said.
