The Nigerian Education Loan Fund (NELFUND) has disbursed N84.2 billion to applicants as of September 2024, according to the Chairman of the House of Representatives Committee on Polytechnic and Higher Technical Education, Mr. Gboyega Isiaka.
Isiaka disclosed this at the 36th annual conference of Federal Government College, Maiduguri Old Students Association, held in Abeokuta, Ogun State. He said the disbursement comprised N27.5 billion for institutional facilities and N56.7 billion for upkeep facilities.
“As at the end of September 2024, the Nigerian Education Loan Fund has made tremendous progress under President Bola Tinubu’s administration, paving the way for a brighter future for our nation’s students,” Isiaka said.
He noted that 351,317 students have registered on the NELFUND portal, out of which 258,943 have applied for either institutional or upkeep loans or both.
The Students Loan Access to Higher Education Act, 2024, aims to bridge the financial gap, ensuring that deserving students have access to quality higher education, Isiaka explained.
“Figures speak for themselves. 351,317 students have registered on the NELFUND portal, out of which 258,943 have applied for either institutional or upkeep loans or both. A total of N84.2 billion have so far been disbursed to the applicants,” he said.
Isiaka, who represents Yewa North/Imeko-Afon Federal Constituency of Ogun State, spoke on “Empowering The Next Generation: Education As a Catalyst For National Development (Student Loans Access To Higher Education Act 2024 in Perspective)”.
