NELFUND: FG Disburses July Stipend to 20,371 Students

The Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of July stipends to 20,371 students across six tertiary institutions.

In a statement released in Abuja on Monday, Ibom Uche, the fund’s Director of Finance and Accounts, highlighted this initiative as part of President Bola Tinubu’s commitment to ensuring financial stability for Nigerian students throughout their academic journeys.

Each beneficiary student received a monthly stipend of N20,000 for their upkeep.

Uche stated that students from institutions whose fees had already been covered by NELFUND have started receiving their July stipends. These institutions include Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri.

“NELFUND is diligently working to initiate payments for students from approximately 55 additional tertiary institutions. We anticipate this will be completed within the next two weeks, as we are committed to ensuring all eligible students receive their stipends promptly,” Uche said.

He emphasized that NELFUND remains dedicated to supporting the educational aspirations of Nigerian students by providing necessary financial assistance.

Furthermore, Uche noted that the fund would ensure the timely disbursement of stipends for daily expenses. He also mentioned that President Tinubu recently allocated an additional N50 billion from recovered proceeds of crime to NELFUND.

“NELFUND appreciates the patience and cooperation of students and institutions as we work diligently to fulfill our commitments,” Uche concluded.