FG releases N850 million loan to Nigerian students for school fees

The Nigerian Educational Loan Fund (NELFUND) has announced the disbursement of N850 million to tertiary institutions across the country for school fees.

This recent allocation is in addition to the over N1.7 billion already distributed to approximately 20,000 students.

NELFUND Managing Director, Akintunde Sawyer, revealed the latest financial aid during a press briefing in Abuja.

“The sum of N850 million will be transferred from NELFUND’s account to institutions today. This is separate from the N1.7 billion that has previously been disbursed,” Sawyer stated.

The initiative is expected to benefit around 1.2 million students, aligning with President Bola Tinubu’s administration’s educational support goals.

The scheme is part of a broader effort to provide financial assistance to students and is a key component of the recently amended student loan bill signed by President Tinubu.