NELFUND disburses over N35 billion to 261,000 students
By Titus Akhigbe
The Managing Director of Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr, had said that the organisation has disbursed over N35 billion to 261,000 students.
Sawyerr stated this at a sensitisation programme for Edo students in conjunction with the Edo State Ministry of Education held at the Edo University, Iyamoh.
“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 upkeep that goes up every month which amounted to about N35 billion in total”, he disclosed.
Sawyerr further said that NELFUND had received about 520,000 registrations and 419,000 applications adding that it has processed and paid 261,000 students both up- keep and institutional fees.
The NELFUND MD said that the organisation had enough funds to pay Nigerian students as long as they were eligible students of any institution in the country.
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“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 provide for us to raise funds from Non governmental quarters and I think is fair to say many Nigerians are helping students with their school fees”.
He said some of the NGOs were 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 NELFUND had become a channel for giving with the right structure in place “and we are honest and transparent about how to deploy the funds.”
The State Commissioner for Education, Dr. Emmanuel Paddy, expressed displeasure over the low number of Edo students applying for the loan.
He said the number of students who had benefited in the state was relatively low and urged them to take advantage of the programme.
“We have cause to be worried, that is why we are having this sensitisation programme so that our people
can benefit from the programme which is laudable” Iyamu said.
Earlier, the Acting Vice Chancellor of Edo University Iyamho, Prof. Dawood Egbefo, said 51 students of Edo University Iyamoh had 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 have been disbursed with 51 students as beneficiaries.
“Today’s sensitisation 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 this funds,” Egbefo said.
The acting VC thanked President 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.
