The Federal Government of Nigeria has reportedly disbursed N20,000 monthly upkeep stipends to 20,371 students from six tertiary institutions, including Bayero University Kano, Federal University Dutsin-Ma, University of Ilorin, University of Benin, University of Ibadan, and University of Maiduguri.
This information was shared by the Director of Finance and Accounts for the Nigerian Education Loan Fund (NELFUND).
The stipend, which was for the month of July, according to the nation’s student loan agency, covers only students whose institutional fees have already been paid by NELFUND.
Additionally, it is anticipated that 55 more tertiary institutions will benefit from this initiative in the future.
The statement read in full: “The management of the Nigerian Education Loan Fund (NELFUND), under the leadership of Mr Akintunde Sawyerr, the Managing Director, has announced the successful disbursement of monthly stipends for the month of July to 20,371 students from six tertiary institutions.
“This initiative further underscores President Bola Ahmed Tinubu’s promised unwavering commitment to supporting Nigerian students by ensuring financial stability throughout their academic pursuit.
“Students from the following institutions, whose institutional fees have already been paid by NELFUND , have begun to receive July upkeep stipends: Bayero University, Kano; Federal University, Dutsin-Ma; University of Ilorin; University of Benin; University of Ibadan; University of Maiduguri.
“NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.
“It is anticipated that this will be concluded within the next two weeks, as the fund is committed to ensuring that all eligible students receive their stipends promptly.
NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions and ensuring the timely disbursement of stipends for day-to-day expenses.
“It is noteworthy that the President only committed a further 50 billion Naira from the recovered proceeds of crime.
“NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfil its previous commitments to Nigerian students.”
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