The Nigerian Education Loan Fund (NELFUND) has released a list of six universities that have collected N2,026,163,340 in institutional fees.
On Saturday, the institutions were announced via the NELFUND official X handle.
The institutions include the University of Ibadan, Bayero University Kano, University of Ilorin, University of Benin, University of Maiduguri, and Federal University Dutsinma in Katsina State.
They paid N853,775,000 to Bayero University Kano, N589,001,500 to the University of Maiduguri, and N304,961,800 to the Federal University Dutsinma in Katsina State.
The University of Ibadan received N201,114,650; the University of Ilorin received N52,897,890; and the University of Benin received N24,412,500.
NELFUND had previously said in a statement that the strategic initiative is intended to lessen the burden of financial restraints so that students who truly needed the funding may continue their study.
What they’re saying
“So far, six of the twelve institutions have received full payment for their institutional fees, which cover more than 20,000 students. “The total amount disbursed to these institutions is roughly N2,026,163,340. “These disbursements will ensure that Nigerian students can proceed with their academic activities unimpeded, fostering peace of mind much needed for these students and their families,” the fund’s statement added.
Final Thoughts
The NELFUND initiative is a promising development that can contribute to increased access to higher education in Nigeria.
This initiative shows the government’s commitment to investing in education and human capital development.
It is also important to have a clear and efficient repayment plan is to ensure the sustainability of the program.
