BREAKING: Tinubu’s Govt Gives N850m Loan to Nigerian Students, Details Emerge
- Nigerian students have reason to celebrate as the Nigerian Educational Loan Fund (NELFUND) has disbursed the sum of N850 for their school fees
- The managing director of the NELFUND, Akintunde Sawyer, said N850 million was paid to tertiary institutions across the country as school fees
- According to Sawyer, the amount is different from the N1.7 billion naira that has already been disbursed
Legit.ng journalist Adekunle Dada has over 5 years of experience covering basic and tertiary education in Nigeria and worldwide
FCT, Abuja - The Nigerian Educational Loan Fund (NELFUND) has disbursed the sum of N850 million to tertiary institutions across the country as school fees.
The managing director of the NELFUND, Akintunde Sawyer, said the amount is apart from the over N1.7 billion that has been disbursed to about 20,000 students.
Source: Facebook
According to The Punch, Sawyer disclosed during an ongoing press briefing in Abuja.
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“The sum of N850M will be leaving the account of NELFUND Today to institutions. This is apart from the N1.7Bn naira that has already been disbursed.”
No fewer than 1.2 million students are expected to benefit from this cardinal programme of President Bola Tinubu’s administration.
Meanwhile, Legit.ng recalls that Nigerians need answers to a lot of questions regarding the newly signed amended student loan bill by President Bola Ahmed Tinubu.
The special assistant to President Tinubu on Social Media| National Convener of the PBAT Media Centre, Olusegun Dada, shared a video which highlighted some of the frequently asked questions about the scheme.
Legit.ng also reported that President Tinubu-led federal government commenced a pilot phase for the student loan scheme.
The NELFUND spokesperson, Nasir Ayitogo said the pilot scheme will target students from public tertiary institutions. Ayitogo said the public institutions include- federal and state universities, polytechnics and colleges of education.
Student loan: FG pays N35 billion to 70,000 applicants
Meanwhile, Legit.ng reported that NELFUND distributed N35 billion to 70,000 successful loan applicants.
Successful candidates were advised check the status of their applications through the agency’s portal, as confirmed by stakeholders.
The funds will be directly transferred to institutions’ bank accounts, covering tuition fees and other charges such as departmental and health insurance fees.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
