The Nigerian Educational Loan Fund (NELFUND) on Tuesday said it would disburse N850 million to institutions as fees today (Wednesday).
This is apart from the over N1.7 billion that has been disbursed to about 20,000 students.
At an ongoing press briefing in Abuja, NELFUND’s Managing Director, Mr. Akintunde Sawyer said: “The sum of N850 million will be leaving the account of NELFUND Today to institutions. This is apart from the N1.7 billion that has already been disbursed”.
Sawyer earlier said that the Fund had disbursed institutional fees to 20,000 students through their institutions.
He also noted that a total of 260,000 loans including institutional fees and upkeep have been approved.
At least 1.2 million students are expected to benefit from this cardinal programme of President Bola Tinubu’s administration.
The President approved N35 billion for the take-off of the scheme after signing the law backing the scheme on 3 April.
