The Nigerian Education Loan Fund (NELFUND) has announced it approved the disbursement of the federal government-backed student loan. The announcement was contained in a press statement published on its X platform on Thursday, following its inaugural board meeting held in Abuja on Wednesday.
The statement signed by its head, media and public relations, Nasir Ayitogo, said the meeting marked a significant milestone in the organization’s commitment to empowering students through financial support.
“The meeting marked a significant milestone in the organization’s commitment to empowering students through financial support. Under the leadership of the Board Chairman, Mr. Jim Ovia, top in agenda was the approval for disbursement of student loan to successful applicants. This decision underscores President Bola Ahmed Tinubu’s dedication to providing timely and essential financial assistance to students in need, enabling them to pursue their educational goals without undue financial stress. By approving the immediate disbursement of the loans, NELFUND is taking a critical step in fulfilling its mission to support education and empower the next generation of leaders,” the statement read.
The meeting, the agency says, also set the stage for future initiatives, aimed at enhancing educational opportunities, and providing comprehensive support to students across various disciplines.
The disbursement is expected to only be available to students of federal institutions at this time as NELFUND announced many state institutions are still defaulting in providing the required information about their students.
