The Nigerian Education Loan Fund said it has disbursed over N20 billion in institutional fees to tertiary institutions nationwide, with 192,906 students as beneficiaries.
NELFUND announced this on Monday via a statement its management released.
The announcement set the record straight about unofficial report claiming the organisation has disbursed N104 billion.
It described the speculation as inaccurate.
“As of February 3, 2025, NELFUND has received a total of 364,042 student loan applications. So far, the Fund has disbursed a total of N20,074,050,000 for institutional fees, benefiting 192,906 students across various tertiary institutions,” the statement said.
It explained that beyond tuition fees, the Fund has also provided financial support for students’ upkeep, disbursing over N12 billion in stipends.
“NELFUND has disbursed N12,818,960,000 to 169,114 students, each receiving a monthly stipend of N20,000,” the statement added.
