Nigerian Education Loan Funds (NELFUND) disbursed over 22 billion naira to cover institutional loans for over 215,514 students across 150 institutions.
Additionally, 12.8 billion was distributed as the upkeep support for 169,114 students with each receiving 20,000 monthly to assist with their expenses.
This was disclosed at the closure of 2022/2023 application and opening of 2024/2025 application portal in Abuja.
At the event the Managing Director NELFUND gave figures of how many applications the agency received since it’s inception in 2024.
He also disclosed how much was disbursed within that year in school fees and student loans beneficiaries.
The Executive Director of Operation, also addressed concerns of alleged marginalisation.
The agency announced that dropouts who are still getting stipends will be taken off the list of beneficiaries.
