According to Mr. Gboyega Isiaka, the chairman of the House of Representatives Committee on Polytechnic and Higher Technical Education, the Nigerian Education Loan Fund, or NELFUND, has disbursed N84.2 billion to the applicants as of September 2024, with N27.5 billion going towards institutional and N56.7 billion towards maintenance facilities, respectively.
During the 36th annual conference of the Federal Government College, Maiduguri Old Students Association, which took place over the weekend in Abeokuta, Ogun State, Isiako revealed that 351,317 students had registered on the NELFUND portal, of which 258,943 had applied for either an institutional loan or an upkeep loan, or both simultaneously. In her speech, the MP discussed the Student Loans Access to Higher Education Act of 2024 from the perspective of empowering the next generation and using education as a catalyst for national development.
He mentioned that in order to guarantee that worthy students have access to high-quality higher education, the Students Loan Access to Higher Education Act, of 2024, attempts to close the financial gap.
The Nigerian Education Loan Fund has achieved significant progress under President Bola Tinubu’s administration, opening the way for a brighter future for our country’s children, according to Isiaka, who represents the Yewa North/Imeko-Afon Federal Constituency in Ogun State. This statement was given as of September 30, 2024.
“The numbers tell it like it is. 258,943 of the 351,317 students who registered on the NELFUND portal applied for institutional loans, maintenance loans, or both.
“To date, N84.2 billion has been awarded to the applicants, of which N27.5 billion and N56.7 billion have been allocated for institutional and maintenance facilities, respectively.”
