The House of Representatives has reaffirmed its unwavering commitment to the effective oversight and success of the Nigerian Education Loan Fund (NELFUND) as it initiates the distribution of monthly stipends to students.
Recent updates through the House oversight mechanisms confirm that NELFUND, under the leadership of Managing Director Mr. Akintunde Sawyerr, has commenced disbursing N20,000.00 monthly stipends for July to 20,371 students across six (6) tertiary institutions.
According to a post shared on X by the House of Representatives, “this initiative is a testament to the Federal Government’s commitment to break financial barriers in higher education.
Additionally, @NELFUND is diligently working to extend the payment process to students from approximately 55 more tertiary institutions in the coming weeks.
The Chairman of the House Committee on Student Loan, Scholarship, and Higher Education Financing, House Committee Rep. Gboyega Nasir Isiaka (APC, Ogun) stated, “The operationalisation of NELFUND represents a significant step forward in our approach to educational support It is designed to alleviate financial burdens, allowing students to focus on their academic endeavors.”
To date, NELFUND has approved and disbursed over N2,530,235,750 in student loans, benefiting 22,120 students across twelve (12) institutions.
