The Nigerian Education Loan Fund (NELFUND) has successfully disbursed N20,000 monthly stipends to 20,371 students in six tertiary institutions across the country. This move is part of the federal government’s efforts to support students’ education and alleviate financial burdens.
The benefiting institutions include the University of Lagos, Ahmadu Bello University, University of Abuja, Obafemi Awolowo University, University of Port Harcourt, and Bayero University Kano. The stipends are expected to cover expenses such as accommodation, feeding, and course materials.
According to the Executive Secretary of NELFUND, the disbursement is a testament to the government’s commitment to investing in human capital development. The fund aims to support over 100,000 students annually, with plans to expand the program to more institutions in the future.
Students have expressed gratitude for the timely intervention, citing that the stipends will help them focus on their studies without financial stress. The program has also been praised for its transparency and efficiency in disbursing funds directly to beneficiaries.
This initiative is part of the government’s broader strategy to address the funding gap in the education sector and promote access to quality education for Nigerian students.