Over 20,000 students receive July stipends from NELFUND

Over 20,000 students receive July stipends from NELFUND

The Nigerian Education Loan Fund (NELFUND) has successfully disbursed N20,000 monthly stipends for July to 20,371 students across six tertiary institutions, under the leadership of Managing Director Mr. Akintunde Sawyerr.

In a statement released on Monday, NELFUND emphasized that the initiative highlights President Bola Ahmed Tinubu’s commitment to supporting Nigerian students by ensuring financial stability throughout their academic journey.

It disclosed that students from six institutions including Bayero University Kano, Federal University, Dutsin-Ma, The University of Ilorin, University of Benin, University of Ibadan and the University of Maiduguri have already received their July stipends, with their institutional fees paid by NELFUND.

NELFUND also revealed that it is working diligently to begin the payment process for students from approximately 55 additional tertiary institutions, aiming to complete this within the next two weeks. The fund is dedicated to ensuring that all eligible students receive their stipends promptly.

The Federal Government agency reiterated its commitment to supporting the educational aspirations of Nigerian students by providing financial assistance for their studies at qualifying institutions and ensuring timely disbursement of stipends for daily expenses.

While appreciating the patience and cooperation of students and institutions as it works to fulfill its commitments to Nigerian students, NELFUND revealed that President Tinubu recently committed a further 50 billion Naira from recovered proceeds of crime to support the initiative.