FG to disburse N850m loan to Nigerian students today

The Nigerian Educational Loan Fund has said it would disburse the sum of N850M to institutions as fees today,  Wednesday, July 31.

The Managing Director of the Nigeria Educational Loan Fund, Akintunde Sawyer, made this known during an ongoing press briefing in Abuja.

This loan is different from the over N1.7Bn that has been disbursed to about 20,000 students.

“The sum of N850M will be leaving the account of NELFUND Today to institutions. This is apart from the N1.7Bn naira that has already been disbursed.”

Sawyer also noted that a total of 260,000 loans including institutional fees and upkeep have been approved and not less than 1.2 million students are expected to benefit from this Federal Government programme.

President Bola Tinubu signed the law backing the scheme on April 3.