FROM IKHILI EBALU, BENIN CITY
Managing Director of Nigerian Education Loan Fund, NELFUND, Mr Akintunde Sawyerr, stated yesterday that over N22 billion has been disbursed to institutions with N11 billion expended on students upkeep.
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.
“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 for upkeep that goes up every month which amounts to about N35 billion in total,” he disclosed.
He disclosed that NELFIND received about 520,000 registrations and 419,000 applications, adding that it has processed and paid 261,000 students their upkeep and institutional fees.
The managing director noted that the agency has enough funds to pay students as long as they are eligible.
According to him, NELFUND is well funded, the political will demonstrated by Mr President to allow us access funds outside the statutory allocation is well commended. The law provides for us to raise funds from non-governmental quarters and I think it is fair to say that many Nigerians are helping students with their fees”.
He said some of NGOs are now injecting their funds into NELFUND, for us to deploy accordingly and many people want to give in this country, but they don’t have a vehicle through which to do that.
The Commissioner for Education, Dr Emmanuel Paddy expressed displeasure over the low number of Edo students that applied for the loan.
He said the number of students who benefited in the state is relatively low and urged them to take advantage of the programme so that they can benefit from it.
“We have cause to be worried that is why we are having this sensitisation programme 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, Professor Dawood Egbefo said 51 students of Edo University Iyamoh have benefited from the loan scheme.
“It will interest you to know that since subscribing to the NELFUND programme, N61.4 million has been disbursed with 51 students as beneficiaries.
“Today, the 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.
“I would like to express our deep gratitude to President Bola 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.
