Top Stories

Breaking: Nigerian Students To Get ₦850 Million Loan Today

The Nigerian Educational Loan Fund (NELFUND) has announced that it will disburse ₦850 million to various institutions today, Wednesday.

This comes in addition to the ₦1.7 billion previously disbursed to approximately 20,000 students.

 

Advertisement

Speaking at a press briefing in Abuja, the Managing Director of NELFUND, Akintunde Sawyer, revealed the details of the disbursement.

“The sum of ₦850 million will be leaving the account of NELFUND today to institutions. This is apart from the ₦1.7 billion naira that has already been disbursed,” Sawyer stated.

Advertisement

Earlier, Sawyer highlighted that institutional fees had already been disbursed to 20,000 students through their respective institutions.

He further noted that a total of 260,000 loans, including institutional fees and upkeep, have been approved.

Advertisement

Sawyer also mentioned that no fewer than 1.2 million students are expected to benefit from this cardinal programme, which is a significant initiative of President Bola Tinubu’s administration.

The educational loan scheme was launched with an initial approval of ₦35 billion by President Tinubu, following the signing of the law backing the scheme on April 3.

Advertisement

The programme aims to support students in their educational pursuits by providing necessary financial aid.

Meanwhile, the Academic Staff Union of Universities (ASUU), Ebonyi State University Chapter, has criticized the Student Loan scheme by President Bola Tinubu’s government, asserting that its implementation and sustainability are not feasible.

Advertisement

The Union urged for a reassessment of its demands which include enhanced funding for revitalization, and the promotion of university autonomy and academic freedom throughout the universities in the country.

CityNews Nigeria reports that the Chairman of the EBSU-ASUU Chapter, Dr. Ikechuku Igwenyi, made these remarks during a press conference held on Monday in Abakaliki, the capital of the state.

Advertisement
citynews

Recent Posts

Dele Farotimi released from Ekiti correctional centre

Human rights advocate Dele Farotimi has been released from the Ekiti State correctional facility after…

5 hours ago

Breaking: Ibadan Stampede: Court Orders Remand Of Ooni’s Ex-Wife, School Principal

A Chief Magistrate in Ibadan, Olabisi Ogunkanmi, has ordered the remand of Prophetess Naomi Silekunola, the…

5 hours ago

Nkechi Blessing gets engaged to younger lover, Xxssive [VIDEO]

Popular Nollywood actress, Nkechi Blessing has finally got engaged to her younger lover, Xxssive. This…

7 hours ago

GOAT: Who said Messi is better than me – Cristiano Ronaldo

Al Nassr captain, Cristiano Ronaldo, has jokingly reacted to a Lionel Messi taunt as he…

7 hours ago

Regina Daniels reveals the best way to predict one’s future as she shares more photos from her vacation

Popular Nollywood actress, Regina Daniels who is still enjoying her trip to the United States,…

7 hours ago

Jay-Z has no ‘plans to show loyalty to longtime friend Diddy’ as he battles r@pe allegation

Jay-Z has no plans to show loyalty to longtime friend Sean 'Diddy' Combs amid the…

7 hours ago