Management of Nigerian Education Loan Fund (NELFund) has announced a monthly maintenance allowance of Rs 20,000 to 20,371 students of six higher education institutions across the country.
According to an August 5 statement signed by the agency’s Director of Finance and Accounts, Ibom Uche, the beneficiaries, who are students of Bayero University, Kano; Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan and University of Maiduguri, have started receiving the maintenance stipend for the month of July.
Mr Uche said the agency was working diligently to commence the payment process for students of about 55 additional tertiary institutions.
“It is anticipated that this exercise will be completed within the next two weeks as the fund is committed to ensuring that all eligible students receive their scholarships promptly,” he said.
He said the agency “remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial aid to study in deserving institutions and ensuring the timely disbursement of stipends for day-to-day expenses.”
Breakdown
Meanwhile, the management had already released details of how it distributed the sum of 2 billion Nigerian Naira as institutional fees to six tertiary institutions.
Details were released on the agency’s X handle on Saturday, saying it disbursed 853 million Nigerian Naira to Bayero University, Kano, 589 million Nigerian Naira to the University of Maiduguri, and 304 million Nigerian Naira to Dutsin-Ma Federal University, Katsina State.
The University of Ibadan received 201 million Nigerian Naira; the University of Ilorin received 52 million Nigerian Naira, while the University of Benin received 24 million Nigerian Naira.
Background story
Premium Times reported that the fund had earlier disbursed a total of 2.5 billion Nigerian Naira to 22,120 students across 12 tertiary institutions. This includes the payment of institutional fees of 20,000 Nigerian Naira students across six institutions and a maintenance stipend of 442 million Nigerian Naira for the month of July.
Funds are distributed based on each institution's academic calendar.
Also read: Student loans: NELFUND disburses N1.17 billion to Nigerian students, pledges accountability
It was also announced that the remaining six institutions would also receive the payment soon.
According to the agency, the funds are aimed at reducing the financial burden on students and their families, so they can focus on their studies.
Support Premium Times' honest and credible journalism
At Premium Times, we strongly believe in the importance of high-quality journalism. Understanding that not everyone can afford expensive news subscriptions, we are dedicated to delivering carefully researched, fact-checked news that is freely accessible to all.
Whether you turn to Premium Times for daily updates, in-depth investigations on national issues, or entertaining trending stories, we appreciate your readership.
It's important to acknowledge that news production costs money, and we're proud that we never overpay for our news.
Would you consider supporting us with a modest monthly contribution to help maintain our commitment to free, accessible news?
Contribute
Text Advertisement: Call Willy – +2348098788999
Source link
