The Nigerian Education Loan Fund announced on Monday that 20,371 students from six postsecondary institutions had successfully received their N20,000 monthly stipends for July.
The universities were named as follows in a statement issued by the Fund in Abuja: Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan; Bayero University Kano; and the University of Maiduguri.
According to the announcement, which was signed by NELFUND’s Director of Finance, Ibom Uche, the Fund is working to start the payment process for students from about “55 additional tertiary institutions.”
The fund is dedicated to making sure that all qualified students receive their stipends on time, thus it is expected that this will be resolved within the next two weeks.
The statement further noted that the President Bola Tinubu on Sunday, further committed the sum of N50bn to the student loan cause.
“It is noteworthy that the President only Sunday committed a further 50 billion Naira from recovered proceeds of crime.”
The implementation of the student loan scheme is President Bola Tinubu’s flagship project in the education sector.
