The Nigerian Education Loan Fund (NELFUND) said that it had disbursed about N35 billion to 261,000 students in the country, REPUBLICAN NIGERIA reports.
Managing Director of NELFUND, Mr Akintunde Sawyerr stated this at a sensitization programme for Edo students, in conjunction with the Edo State Ministry of Education held at the Edo University, Iyamoh on Thursday.
“So far in Nigeria, we have disbursed over N22 billion in institutional fees that is money paid to institutions, while we have disbursed about N11 billion in up keep that goes up every month which amounted to about N35 billion in total” he disclosed.
Mr. Sawyerr further disclosed that NELFUND has received about 520,000 registrations and about 419,000 applications, adding that it has processed and paid 261,000 students both up keep and institutional fees.
The NELFUND MD noted that the organisation has enough funds to pay Nigerian students as long as they are eligible students of any institution 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”.
The MD said that some of the NGOs are now injecting their funds into NELFUND for us to be able to deploy accordingly and many people want to give in this country but they don’t have a vehicle through which to do that.
He said that NELFUND has become a channel for giving and believing that if putting the right structure in place and as long as it is being honest, we are honest and transparent about how to deploy the funds.
The Edo State Commissioner for Education, Dr. Emmanuel Paddy expressed displeasure over the low number of Edo students applying for the loan.
He said that the number of students who have benefited in the state is relatively low and urged the students of the state to take advantage of the programme so that they can benefit from the loan scheme.
“We have cause to be worried, that is why we are having this sensitization programme so that we can bring our people up to speed so that they can benefit from the programme which is laudable and it is going to be highly beneficial to them” Iyamu said.
Earlier, the Acting Vice Chancellor of Edo University, Iyamho, Prof. Dawood Egbefo said that 51 students of Edo University, Iyamoh have benefited from the Federal Government students loan.
“It will interest you to know that since subscribing to the NELFUND programme, the sum of N61.4 million has been disbursed, with 51 students as beneficiaries.
“Today sensitization programme served as an opportunity for us to explore how NELFUND can continue to serve as a beacon of hope for students in Edo State.
“I encourage all participants to take full advantage of this platform so that you can maximise the benefits of the funds,” Egbefo said.
The acting Vice Chancellor thanked President Ahmed Bola Tinubu for the support, growth and advancement of education in Nigeria.
“I would like to express our deep gratitude to President Tinubu for his leadership and unwavering support for the growth of education in Nigeria, his vision for a more prosperous and well educated nation,” he said.
In an earlier sensitisation visit to Ambrose Alli University, Ekpoma, NELFUND expressed concern over low application numbers, with only 102 students applying, amounting to less than N20 million.
The Director of Loan Allocation and Distribution, NELFUND, Lami Suwaid, urged the university to take advantage of the new registration cycle to boost participation.
The Acting Vice Chancellor of AAU, Professor Sunday Olowo Samuel, represented by the Director of Academic Planning, Prof. Eunice Omoregie, reiterated the university’s commitment to driving awareness and increasing student enrolment in the scheme.
“The programme is designed to educate and sensitise our students on the various initiatives and programmes offered by NELFUND. The goal is to equip you with the knowledge and skills necessary to take advantage of the opportunities and make informed decisions about your future,” Omoregie said.
The event at Ekpoma also drew students from Edo College of Education, Igueben.
