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By Okpokpo Okhumode, Auchi
The Nigerian Education Loan Fund (NELFUND) says it had disbursed about N35 billion to 261,000 students in the country.
The Managing Director of NELFUND, Mr Akintunde Sawyerr stated this at a sensitisation programme for Edo students in conjunction with the Edo State Ministry of Education held at the Edo University Iyamoh, on Thursday.
“So far in Nigeria, we have disbursed over N22 billion in institutional fees that is money paid to institutions while we have disbursed about N11 billion in up keep that goes up every month which amuonted to about N35 billion in total” he disclosed.
Mr. Sawyerr further disclosed that NELFUND have received about 520,000 registrations and about 419,000 applications adding that it has process and paid 261,000 students both up keep and institutional fees.
The NELFUND MD noted that the organisation have enough funds to pay Nigerian students as long as they are eligible students of any institutions in the country.
“So far we are very well funded, the political will demonstrated by Mr President to allow us access funds outside the statutory allocation is well commended. The law provide for us to raise funds from Non governmental quarters and I think is fair to say many Nigerians are helping students with their school fees”.
The MD said some of this NGOs are now injecting their funds into NELFUND for us to be able to deploy accordingly and many people want to give in this country but they don’t have a vehicle through which to do that.
He said NELFUND has become a channel for given and believing that if putting the right structure in place and as long as is being honest which we are honest and transparent about how to deploy the funds.
The state Commissioner for Education, Dr. Emmanuel Paddy expressed displeasure over the low number of Edo students applying for the loan.
He said the number of students who have benefited in the state is relatively low and urged the students of the state to take advantage of the programme so that they can benefit from the loan scheme.
“We have cause to be worried that is why we are having this sensitisation programme so that we can bring our people up to speed so that they can benefit from the programme which is laudable and it is going to be highly beneficial to them” Iyamu said.
Earlier, the Acting Vice Chancellor of Edo University Iyamho, Prof. Dawood Egbefo said 51 students of Edo University Iyamoh have benefited from the Federal Government students loan.
“It will interest you to know that since subscribing to the NELFUND programme, the sum of N61.4 million have been disbursed with 51 students as beneficiaries.
“Today sensitisation programme served as an opportunity for us to explore how NELFUND can continue to serve as a beacon of hope for students in Edo State.
“I encourage all participants to take full advantage of this platform so that you can maximise the benefits of this funds,” Egbefo said.
The acting VC thanked President Tinubu for the support, growth and advancement of education in Nigeria.
“I would like to express our deep gratitude to President Tinubu for his leadership and unwavering support for the growth of education in Nigeria, his vision for a more prosperous and well educated nation”, he said.
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