Over 20,000 Students Receive Stipends from NELFUND

The National Education Loan Fund (NELFUND) has announced the distribution of stipends to student loan applicants from six universities across Nigeria.

On Monday, Ibom Uche, the director of finance and accounts at NELFUND, shared that each qualifying student has received N20,000 as part of the financial support initiative.

In total, 20,371 students from Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri benefited from this payment.

This is not the first time NELFUND has provided support; they previously announced that they had also covered tuition fees for the students attending these institutions.

Uche mentioned that preparations are already underway to process payments for students from an additional 55 tertiary institutions.

He highlighted that this initiative reflects President Bola Ahmed Tinubu’s commitment to supporting Nigerian students with financial aid during their studies.

The process for disbursing these stipends is expected to be completed within the next two weeks, with NELFUND ensuring that eligible students receive their funds in a timely manner.

Uche emphasized NELFUND’s ongoing mission to aid the educational goals of Nigerian students by providing necessary financial assistance and prompt stipend payments.

He also stated that the President had recently committed an additional 50 billion Naira from recovered criminal proceeds to support this initiative.

NELFUND appreciates the patience and ongoing support from students and educational institutions as they strive to fulfill their promises to provide aid to Nigerian students.

Earlier this week, NELFUND reported that they had allocated over N2.5 billion to the student loan scheme.