Nigerian students to get N850 million loan
On Tuesday, the Nigerian Educational Loan Fund said that it would pay N850 million in fees to universities today, Wednesday.
This is in addition to the more than N1.7 billion that has been given to roughly 20,000 pupils.
Akintunde Sawyer, the Fund's Managing Director, announced this during a news conference that was still in progress in Abuja.
“The sum of N850M will be leaving the account of NELFUND Today to institutions. This is apart from the N1.7Bn naira that has already been disbursed.”
Prior to this, Sawyer disclosed that 20,000 students had received institutional fees from the Fund through their respective universities.
He added that 260,000 loans in total, including maintenance and institutional costs, have been approved.
This administration of President Bola Tinubu is anticipated to assist no fewer than 1.2 million students through its flagship initiative. On April 3, the President signed the legislation enabling the plan, approving N35 billion for its implementation.
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