Six federal universities have been named as beneficiaries of the first batch of loans disbursed by the Nigerian Education Loan Fund.
These universities 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 Nasir Ayitogo, Head of Media and Public Relations at NELFUND, the other institutions are the University of Maiduguri in Borno State and the Federal University, Dutsin-Ma in Katsina State.
The statement detailed that over N2,026,163,340 was disbursed directly to these institutions by NELFUND.
“Six federal institutions have so far received institutional fees directly from NELFUND. They include Bayero University Kano, University of Ilorin, University of Benin, University of Ibadan, University of Maiduguri, and Federal University Dutsinma, Katsina State.
“The funds were disbursed because these institutions just commenced new academic sessions. As soon as others in our pool commence theirs, they will receive funds as well,” NELFUND said in the statement issued on Saturday, by its Head, Media and Public Relations, Nasir Ayitogo.
“The total amount disbursed to these institutions stands at approximately N2,026,163,340. A further six will receive their payments in the coming week,” the press release said.
“So far, a total of N2,026,163,340.00 has been disbursed across six Nigerian tertiary institutions to support student access to education,” NELFUND further said in the statement on Saturday.
Detailed on NELFUND’s X handle, Bayero University, Kano received N853,775,000, while the University of Maiduguri received N589,001,500. The Federal University, Dutsin-Ma, Katsina State received N304,961,890.
The University of Ibadan in Oyo State received N201,114,650; the University of Ilorin in Kwara State was allocated N52,897,890, and the University of Benin in Edo State received N24,412,500.
