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The Nigerian Education Loan Fund said it will disburse N850 million to institutions as fees today, Wednesday, July 31.
The Managing Director of the Nigeria Educational Loan Fund, Akintunde Sawyer, made the disclosure at a press conference in Abuja.
This loan is different from the over 1.7 billion naira disbursed to about 20,000 students.
“The sum of N850M will leave the account of NELFUND Today to the institutions. This is apart from the N1.7Bn naira that has already been disbursed.”
Sawyer also noted that a total of 260,000 loans have been approved, including institutional fees and maintenance, and that no fewer than 1.2 million students are expected to benefit from this federal government program.
President Bola Tinubu signed the law supporting the project on April 3.
