The chairman on polytechnic and higher technical education committee in the house of representatives Gboyega Isiaka disclosed that the nelfund student loan disbursement has reached #84.2B across various institutions in Nigeria at the 36th annual conference of the federal government college , Maiduguri old students association, mitros residences, Abeokuta.
He said “As of the end of September 2024, the Nigerian Education Loan Fund has made tremendous progress under President Bola Ahmed Tinubu’s administration, paving the way for a brighter future for our nation’s students,” he said.
“The numbers speak for themselves: 351,317 students have registered on the NELFUND portal, out of which 258,943 have applied for either institutional or upkeep loans, or both. “A total of N84.2bn has been disbursed to the applicants, comprising N27.5bn for institutional facilities and N56.7b for upkeep facilities.”
He also reiterated that anyone who speaks ill of the loan will be charged with felony and liable to be imprisoned for 3 years. He also explained in details the conditions of repayment which is 2 years after the NYSC programme and also indicated cases like death or God cause as a way of forgiving the loan.
