NELFund has distributed 2,026,163,340 through the student loan program, according to a statement released by the organization. Six federal universities whose students were recipients of the initial batch of loans disbursed by the Nigerian Education Loan Fund (NELFUND) have been identified.

They include the University of Benin in Edo State, the University of Ibadan in Oyo State, Bayero University in Kano State, and the University of Ilorin in Kwara State.

According to a statement released on Saturday by NELFUND’s Head of Media and Public Relations, Nasir Ayitogo, the University of Maiduguri in Borno State and the Federal University in Dutsin-ma, Katsina State, are also among the beneficiaries.

NELFUND directly disbursed the funds, totaling over N2,026,163,340, to the universities.

Six federal institutions have received institutional fees directly from NELFUND to date. These institutions are Bayero University Kano, University of Ilorin, University of Benin, University of Ibadan, University of Maiduguri, and Federal University Dutsinma in Katsina State. The disbursement of funds was made as these institutions have recently initiated new academic sessions.

NELFUND indicated in a statement released on Saturday by its Head of Media and Public Relations, Nasir Ayitogo, that additional institutions will receive funding as they commence their academic sessions.

The total amount allocated to these institutions is approximately N2,026,163,340, with another six institutions expected to receive their payments in the upcoming week.

NELFUND reiterated that a cumulative total of N2,026,163,340.00 has been distributed among six Nigerian tertiary institutions to enhance student access to education.

The disbursement details shared by the fund on its Twitter account last Saturday revealed that Bayero University, Kano was allocated N853,775,000, the University of Maiduguri received N589,001,500, and the Federal University Dutsin-ma, Katsina State obtained N304,961,890.

Additionally, the University of Ibadan, Oyo State was granted N201,114,650, the University of Ilorin, Kwara State received N52,897,890, and the University of Benin, Edo State was given N24,412,500.