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Tag: NELFUND

  • Fuel hike: NANS demands upward review of students loan

    Fuel hike: NANS demands upward review of students loan

    Amidst the hike in the pump price of fuel, the National Association of Nigerian Students (NANS) has called on the President Bola Tinubu-led government to increase the students loan from N20,000 to N40,000. NANS Senate President, Babatunde Akinteye, made the call during a news conference on the state of the nation in Abuja on Monday.

    Akinteye said that this adjustment was necessary to help students cope with the rising cost of living while ensuring that they continue to pursue their education without undue financial strain. He also urged the Federal Government to reduce excessive government spending. He said that at a time when Nigerians were being asked to make sacrifices, it was only fair that those in power led by example. He called for calm, noting that the reforms by President Bola Tinubu would yield favourable outcomes.

    “We find ourselves at a pivotal juncture in our nation’s history, where the weight of economic reforms has cast a shadow of discomfort, hunger and despair across our land. The reality we face today is daunting, and the uncertainty of these times cannot be understated.

    Yet, amid these challenges, we must stand united and clear-headed. Burning down our country is not an option; it is not a solution. As the foremost student and youth movement in Africa, we share the same struggles, hopes, and aspirations as every Nigerian,” he said.

    According to Akinteye, in moments like this, there is need for thoughtful and measured action rather than embarking on protest. Observing the current hardships, ranging from foreign exchange irregularities to fuel scarcity, skyrocketing food prices among others, he urged the government to tackle the problem headlong.

    “We acknowledge that Nigerians, especially students, are severely impacted by the high fuel prices, as our economy is deeply tied to fuel. The ripple effect is felt most intensely by the lower class, and the cries of distress are understandable.

    “However, it is crucial that we approach these issues with caution and strategy. The mood across the nation is one of anger, frustration, and desperation. Many Nigerians are on edge, waiting for a spark to ignite unrest but we must resist the temptation to react in haste. We are mindful of the importance of preserving life and liberty,” he said.

    He stressed that the safety of every Nigerian student is a top priority of NANS. “We will not risk exposing them to danger by hastily calling for protests,” he said.

  • Senior lawyer returns student loan received in 70s

    Senior lawyer returns student loan received in 70s

    The Nigerian Education Loan Fund (NELFUND) has announced the receipt of two million Naira, through a bank draft, given by Adegboyega Awomolo, a former beneficiary of student loan.

    This is contained in a statement by Monalisa Dike, from the Corporate Communications Department of the fund on Friday in Abuja.

    Dike said that Awomolo,  a Senior Advocate of Nigeria (SAN) benefitted from the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University)  between 1975 and 1977.

    She said the senior lawyer demonstrated his unwavering commitment to the nation by repaying the loan in full.

    “The loan, which at the time amounted to a total of N1,000 for two sessions, was instrumental in helping him complete his law degree.

    “Despite several previous attempts, over the years, to refund the loan, Awomolo was unable to fulfill the repayment until now.

    “In his letter to the Managing Director of NELFUND, Mr Akintunde Sawyerr, Awomolo expressed his gratitude to the Nigerian government for the opportunity that the student loan provided him,” she said.

    According to her, Awomolo acknowledged the transparency and accountability that NELFUND had demonstrated in its current management of student loans.

    Dike added that Awomolo’s repayment came as a testament to the lasting impact of President Bola Tinubu’s initiative and the ongoing relevance of NELFUND in supporting Nigerian students.

    “His two million Naira repayment serves as full and final settlement of his loan indebtedness, reflecting his dedication to upholding his responsibility to the nation.

    “NELFUND remains committed to empowering future generations of Nigerian students and ensuring that access to education is available to all, regardless of financial background.

    “Awomolo’s patriotic gesture is another shining example of the enduring value of education and the importance of fulfilling one’s obligation.

    “It demonstrates the strength of morality, which still exists amongst Nigerians,” she said.

    She, however, said that the funds would be used to fund the education of students who need the loan now.

  • BREAKING: FG disburses fresh loans to students [SEE LIST]

    BREAKING: FG disburses fresh loans to students [SEE LIST]

    The federal government (FG) of Nigeria has disbursed fresh loans to students in forty (40) additional institutions across the country, bringing the total number disbursements to institutions in the country to fifty-nine (59).

    TheNewsGuru.com (TNG) reports Nigerian Education Loan Fund (NELFUND), the official FG agency in charge of the student loans, made the disclosure on Friday, revealing that the sum of N2.1 billion was disbursed to 18,998 students across the 40 institutions.

    “This expansion marks a significant milestone in NELFUND’s ongoing commitment to providing access to quality education for all Nigerian students, regardless of their financial circumstances,” the agency wrote on X.

    From the list obtained by TNG, Delta State University (DELSU), Abraka, Delta State; University of Ibadan, Oyo State; Ebonyi State University, Ebonyi State; University of Port Harcourt (UNIPORT), Rivers State, and Bauchi State University, Bauchi State are among the benefitting institutions.

    Other institutions that benefitted from the fresh disbursement of the student loans are Kogi State University, Kabba, Kogi State; Yaba College of Technology, Lagos State; Lagos State University of Education, Lagos State; Usmanu Danfodio University, Sokoto State, and Gombe State University, Gombe State.

    See full list of institutions and amount received below:

    1. Federal Polytechnic Nekede, Imo State – N368,400
    2. Federal University of Health Science, Ila Orangun, Osun State – N7,448,000.00
    3. Federal University Wukari, Taraba State – N97,398,000.00
    4. Olabisi Onabanjo University, Ogun State – N7,265,000.00
    5. University of Ibadan, Oyo State – N9,797,450.00
    6. Osun State University, Osun State – N218,954,500.00
    7. Usmanu Danfodio University, Sokoto State – N226,931,440.00
    8. Zamfara State University, Zamfara State – N2,340,800.00
    9. Delta State University Abraka, Delta State – N45,973,600.00
    10. Abraham Adesanya Polytechnic, Ogun State – N7,846,500.00
    11. Ebony State University, Eboni State – N78,313,000.00
    12. Emmanuel Alayande University of Education, Oyo State – N4,050,500.00
    13. Federal Polytechnic Bali, Taraba State – N2,589,000.00
    14. Federal University of Agriculture Abeokuta, Ogun State – N133,995,450.00
    15. Federal University of Health Science Azare, Bauchi State – N14,170,000.00
    16. Federal University Gusau, Zamfara State – N218,554,000.00
    17. Federal University of Technology Ikot-Abasi, Akwa Ibom State – N6,308,000.00
    18. Lagos State University of Education, Lagos State – N14,378,000.00
    19. Moshood Abiola Polytechnic, Ogun State – N3,485,000.00
    20. Ogun State Institute of Technology, Ogun State – N5,907,998.00
    21. Tai Solarin University of Education, Ogun State – N10,802,000.00
    22. University of llesa, Osun State – N98,871,500.00
    23. University of Portharcourt, Rivers State – N66,906,030.00
    24. Gombe State University, Gombe – N3,621,000.00
    25. Abia State University, Abia State – N12,469,500.00
    26. Federal University of Technology Babura, Jigawa State – N64,565,000.00
    27. Nigerian Army University Biu, Borno State – N45,138,500.00
    28. Abubakar Tafawa Balewa University, Bauchi State – N256,912,600,00
    29. Micheal Okpara University of Agriculture, Umudike, Imo State – N71,016,220.00
    30. Yusuf Maitama Sule University, Kano State – N4,297,178.00
    31. Bauchi State University, Bauchi – N12,628,500.00
    32. Yaba College of Technology, Lagos State – N733,000.00
    33. Hussaini Adam Federal Polytechnic Kazaure, Jigawa State – N621,256.80
    34. Ignatius Ajuru University of Education, Rivers State – N107,245,000.00
    35. Federal University of Technology Akure, Ondo State – N34,428,000.00
    36. Ladoke Akintola University, Oyo State – N8,670,000.00
    37. Kogi State University, Kabba, Kogi State – N10,820,650.00
    38. Niger State Polytechnic, Zungeru, Niger State – N4,535,000.00
    39. Alex Ekwueme Federal University Ndufu, Anambra State – N193,377,100.00
    40. Federal University of Health, Science Otukpo, Benue State – N32,450,844.00
  • University of Ibadan students protest against fees hike

    University of Ibadan students protest against fees hike

    The Students’ Union of the University of Ibadan (UI) on Friday rejected the school fees increment approved by the governing council of the institution. To show their disapproval, the students staged an overnight protest from 10:20 pm to 2 a.m.

    President of the Student Union Government (SUG), Bolaji Aweda; Vice-President, Bolutife Aboderin, and Secretary, Daniel Elemide in a statement, rejected the new fees.

    “We reject the decision made by the council. We are embarking a boycott of classes until our demands are fulfilled. We demand a reversal of the increase. The students demand that the school fees portal should be shut down within 24 hours until our demands were met,” they said.

    The union leaders urged students to make use of social media platfprms to mobilise others, using the hashtags #UIFEESMUSTFALL and #SAVEUITES, until their demands are met.

    The governing council of the university on Thursday, approved the increment in school fees of students of the university from 100 to 400 level and also fixed deadline for payment.

    In a statement signed by the Registrar and secretary to the council, G.O. Saliu and available to UCJUI, the decision was reached at the inaugural meeting of the council held earlier on Thursday and it considered the new levy as recommended by the Senate of the University.

    Students who have not yet completed their registration, the council said,  were advised to do so on or before Sept. 4.

    “Consequently, students who are yet to pay and complete their registration exercises are advised to do so, on or before Sept.  4, to enable departments download lists of registered students, in preparation for the First Semester Examination,” the release read in part.

    Additionally, the council urged students to take advantage of financial aids such as the Nigerian Education Loan Fund (NELFUND) and various scholarships offered by the University and other benefactors to assist indigent students.

    The council also made it clear that there would be no extension of the registration deadline, as the portal will be closed after the specified date.

    “Council equally directed that students be encouraged to take advantage of the students’ loan fund (NELFUND) and sundry scholarships instituted by the University and other weil-meaning philanthropists, to cater for indigent students.

    “Above is for strict adherence as the portal will not be opened after the deadline,” the released further clarified.

    Deadline for the payment of school fees was initially suspended, following the July protest.

  • Former lawmaker repays N1,200 student loan received in 70s

    Former lawmaker repays N1,200 student loan received in 70s

    A former member of the House of Representative, Lanre Laoshe has repaid a N1,200 student loan he received between 1976 and 1979 with the sum of N3,189,217. This is contained in a statement made available to newsmen in Abuja on Tuesday by Nasir Ayitogo of the Communications Department, Nigerian Education Loan Fund (NELFUND).

    Ayitogo said Laoshe, who benefited from the defunct Federal Government Student Loan Scheme, expressed gratitude for the financial support he received during his education. He stated that in order to determine the current equivalent of the N1,200 loan, he obtained a table of average annual exchange rates from 1972 to 1985 from sources at the Central Bank of Nigeria (CBN).

    “Using the current exchange rate of $1.00 = N1,583.98, Hon. Laoshe calculated that the equivalent amount today would be N3,189,217.00. As a result, he issued a Polaris Bank Plc bank draft (No. 14670909) for this amount to NELFUND, marking his repayment as a token of gratitude to the Federal Government for the role it played in his educational journey.

    “This act of goodwill and integrity by Laoshe serves as an inspiring example of the impact that government support can have on individuals and highlights the importance of honouring one’s commitments.

    “NELFUND is deeply appreciative of Hon. Laoshe’s gesture and remains committed to supporting the educational aspirations of Nigerian students through its various programmes,” he said.

  • Step-by-Step procedures for student loan disbursement

    Step-by-Step procedures for student loan disbursement

    Below is a comprehensive outline of the student loan application and disbursement process, highlighting the responsibilities of NELFUND, the educational institutions, and the students involved.

     

    Data Submission by Institutions:

    Each institution must submit complete, accurate, and detailed student information to NELFUND for upload onto the NELFUND Student Verification System (SVS). This data includes matriculation numbers, JAMB details, course of study, academic level, and the institution’s fee structure.

     

    Notification of Application Readiness:

    NELFUND and the institutions collaborate to inform students of their eligibility for the student loan. This is done through awareness campaigns and direct communication to ensure all eligible students are aware of the opportunity.

     

    3. Student Loan Application:

    Interested students submit their loan applications via the NELFUND portal (www.nelf.gov.ng). During the application, students must provide essential details such as their JAMB number, NIN, BVN, and matriculation number.

     

    4. Application Processing by NELFUND:

    Once applications are received, NELFUND verifies the submitted information. Only those applications that meet the eligibility criteria are approved.

     

    5. Approval Notification to Institutions:

    NELFUND compiles a list of approved student loans and forwards it to the respective institutions for further verification.

     

    6. Institutional Verification:

    The institutions review the list of approved loans, confirming the accuracy and authenticity of the student information and loan approvals. Once verified, the list is signed off by the institution’s authority and returned to NELFUND.

     

    7. Disbursement of Institutional Fees:

    After receiving the verified and signed-off list from the institutions, NELFUND disburses the approved fees directly to the institutions on behalf of the students.

     

    This structured process ensures the efficient management of student loans, with each party fulfilling its role to support students in accessing higher education.

  • NELFUND acknowledges receipt of N50bn from EFCC

    NELFUND acknowledges receipt of N50bn from EFCC

    The Nigerian Education Loan Fund (NELFUND) has acknowledged the receipt of an additional N50 billion from the Economic and Financial Crimes Commission (EFCC).

    The Federal Government had earlier injected N60 billion into the fund.

    Mrs Oseyemi Oluwatuyi, the Director, Corporate Communications, NELFUND, announced this in contained in a statement on Friday in Abuja.

    Oluwatuyi said the release followed the directive of President Bola Tinubu on Aug. 4, directing the EFCC to transfer the funds to NELFUND to further boost the student loan programme.

    She said this significant injection of funds represents a major milestone in the administration’s commitment to bolstering access to education, by providing financial support to students across Nigeria.

    “The fund extends its deepest appreciation to Tinubu for his unwavering dedication to the education sector, and his continued efforts to support the most vulnerable segments of the population.

    “By deciding to allocate these funds to the student loan scheme,Tinubu has once again demonstrated his visionary leadership and commitment to fostering a brighter future for Nigerian students.

    “NELFUND also wishes to acknowledge and thank the EFCC under the leadership of its Executive Chairman, Ola Olukayode for their swift action ensuring the release of the funds,” she said.

    According to her, their diligent work has ensured that these resources have been promptly made available to benefit the education of our nation’s youth.

    She added that the decision to direct these funds into NELFUND’s student loan scheme, underscored the administration’s broader social intervention policy aimed at uplifting the most populous segment of Nigerian society.

    “This infusion of funds will significantly boost NELFUND’s ability to provide much-needed financial support to students, enabling them to pursue their academic aspirations without financial hindrance,” she said.

    Oluwatuyi assured of NELFUND’s commitment to utilising the funds equitably, responsibly and efficiently, while ensuring that they directly benefit those who need them the most.

    She said that NELFUND would continue to drive the mission of expanding tertiary education access for all Nigerian youths.

    She said that through the fund, there would be increasing employability of  well-educated graduates in both the academic and vocational sectors.

    NAN

  • Student Loan: NELFUND clears 22 more institutions [SEE FULL LIST]

    Student Loan: NELFUND clears 22 more institutions [SEE FULL LIST]

    The Nigerian Education Loan Fund (NELFUND) has cleared additional 22 state-owned tertiary institutions for student loan applications.

    This is disclosed in the official X handle (formerly Twitter) of NELFUND.

    The fund said the additional institutions followed a review by the committee responsible for Student Verification System.

    According to the organisation, students from the 22 state-owned tertiary institutions can now apply for loans on its portal, http://nelf.gov.ng.

    It would be recalled that, 86 state-owned institutions were cleared before the new list, bringing the number to a total of 108 institutions.

    NELFund had also  said that over N1 billion had been disbursed so far, as tuition fees to 20000 students from the institutions across the country.

    The lists of the newly and previously cleared institutions are as follows:

    Newly Cleared Institutions

    1. Abia State University, Uturu
    2. College of Education, Nsugbe
    3. Chukwuemeka Odumegwu Ojukwu University
    4. Delta State University, Abraka.
    5. Delta State Polytechnic, Otefe-Oghara, Delta State
    6. Ekiti State Polytechnic, Isan-Ekiti
    7. Kogi State University, Kabba, Kogi State
    8. Prince Abubakar Audu University
    9. Kwara State University
    10. Kwara State College of Health Technology
    11. Abdulkadir Kure University, Minna
    12. Ogun State College of Health Technology, Ilese-Ijebu
    13. Moshod Abiola Polytechnic
    14. Emmanuel Alayande University of Education, Oyo
    15. The Polytechnic, Ibadan
    16. The Oke Ogun Polytechnic, Saki
    17. Rivers State University, Port Harcourt
    18. Kenule Beeson Saro-Wiwa Polytechnic
    19. Shehu Sule College of Nursing and Midwifery, Damaturu
    20. College of Administration, Management and Technology, Potiskum, Yobe State
    21. College of Agriculture, Science & Technology, Gujba
    22. College of Education Legal Studies, Nguru

    Previously cleared institutions are:

    1. Abia State Polytechnic
    2. Adamawa State University Mubi
    3. Adamawa State Polytechnic Yola
    4. College of Education Afaha Nsit
    5. Akwa Ibom State University
    6. Akwa Ibom State Polytechnic
    7. Aminu Saleh College of Education, Azare
    8. Niger Delta University
    9. Benue State University, Makurdi
    10. Borno State University
    11. College of Education, Waka-Biu
    12. Mohammet Lawan College of Agriculture
    13. Ramat Polytechnic, Maiduguri
    14. Cross River State University
    15. Delta State Polytechnic, Ogwashi-uku
    16. Delta State University of Science and Technology
    17. Dennis Osadebay University, Asaba
    18. University of Delta Agbor
    19. Ebonyi State University, AbakalikI
    20. Edo State University Uzairue.
    21. Ekiti State University, Ado Ekiti
    22. Bamidele Olumilua University of Edu., Sc., and Tech
    23. University of Medical and Applied Sciences Enugu State
    24. Gombe State University
    25. Imo State University of Agriculture and Environmental Sciences Umuagwo
    26. Kingsley Ozumba Mbadiwe University
    27. Benjamin Uwajumogu State College of Education IhitteUboma
    28. Imo State Polytechnic Omuma
    29. Sule Lamido University Kafin Hausa, Jigawa State
    30. Nuhu Bamalli Polytechnic, Zaria
    31. Kaduna State College of Education Gidan Waya
    32. Kaduna State University
    33. Aliko Dangote University of science and Technology wudil
    34. Yusuf Maitama Sule University
    35. Katsina State Institute of Technology and Management
    36. Umar Musa Yaradua University Katsina
    37. Kebbi State University of Science and Technology, Aliero
    38. Confluence University of Science and Technology
    39. Prince Abubakar Audu University Anyigba
    40. Kwara Polytechnic
    41. Kwara State College of Education Oro
    42. Lagos state university of education
    43. Lagos State University of Science and Technology
    44. Lagos State University
    45. Isa Mustapha Agwai Polytechnic, Lafia
    46. Nasarawa State University Keffi
    47. Ibrahim Badamasi Babangida University, Lapai
    48. Niger State Polytechnic Zungeru
    49. Abraham Adesanya Polytechnic
    50. Olabisi Onabanjo University
    51. Tai Solarin University of Education
    52. Ogun State Institute of Technology, Igbesa
    53. D.S Adegbenro ICT Polytechnic Itori-Ewekoro.
    54. Gateway ICT Polytechnic Saapade
    55. University of Medical Sciences, Ondo
    56. Adekunle Ajasin University Akungba-Akoko, Ondo State
    57. Government Technical College Ile-Ife
    58. GTC, ARA Osun State
    59. GTC, GBONGAN Osun State
    60. GTC, IJEBU-JESA
    61. GTC, ILE-IFE Osun State
    62. GTC, INISA Osun State
    63. GTC, IWO Osun State
    64. GTC, OTAN AYEGBAJU Osun State
    65. GTC, OSU Osun State
    66. Osun State College of Education, Ila-Orangun
    67. Osun State College of Technology
    68. Osun state university
    69. University of Ilesa, Osun State
    70. Osun State Polytechnic, Iree
    71. Oyo State College of Agriculture and Technology, Igboora
    72. OYO STATE COLLEGE OF Health Science and Technology, Eleyele, Ibadan.
    73. Adeseun Ogundoyin Polytechnic Eruwa Oyo State
    74. Ladoke Akintola University of Technology Oyo State
    75. Oyo State College of Nursing Sciences, Eleyele
    76. First Technical University Ibadan
    77. Plateau State University Bokkos
    78. Port Harcourt Polytechnic
    79. Ignatius Ajuru University of Education Port Harcourt
    80. Taraba state polytechnic
    81. Taraba State University, Jalingo
    82. Taraba State College of Nursing Sciences Jalingo
    83. Umar Suleiman College of Education, Gashua, Yobe State
    84. Yobe State University
    85. Mai Idris Alooma Polytechnic Geidam, Yobe State.
    86. Zamfara State University, Talata Mafara.
  • NELFUND disburses July upkeep to 20,371 students

    NELFUND disburses July upkeep to 20,371 students

    Management of the Nigerian Education Loan Fund (NELFUND) has announced the successful disbursement of monthly stipends for the month of July to 20,371 students from six tertiary institutions.

    This is contained in a statement made available to newsmen in Abuja on Monday by the Fund’s
    Director Finance and Accounts, Mr Ibom Uche.

    Uche said the initiative underscored President Bola Tinubu’s unwavering commitment to support Nigerian students by ensuring financial stability throughout their academic pursuit.

    A monthly payment of N20,000 was given as upkeep stipends to each of the beneficiary students.

    He said students from institutions whose institutional fees had already been paid by NELFUND, have began to receive their July upkeep stipends.

    He listed the institutions as :Bayero University Kano, Federal University, Dutsin-Ma, University of Ilorin and University of Benin.

    Other he said are University of Ibadan and University of Maiduguri.

    ”NELFUND is diligently working to commence the payment process for students from approximately 55 additional tertiary institutions.

    ”It is anticipated that this will be concluded within the next two weeks as the fund is committed to ensuring that all eligible students receive their stipends promptly.

    ”NELFUND remains steadfast in its mission to support the educational aspirations of Nigerian students by providing financial assistance for studies at qualifying institutions,” he said .

    He added that the fund would also ensure the timely disbursement of stipends for day to day expenses.

    “It is noteworthy that the President on Sunday committed a further N50 billion from recovered proceeds of crime.

    ”NELFUND appreciates the patience and cooperation of students and institutions as the organisation works assiduously to fulfill its previous commitments to Nigerian students,” he said.

  • Student loan: FG disburses N2.5bn institution fees to 12 schools

    Student loan: FG disburses N2.5bn institution fees to 12 schools

    The Nigerian Education Loan Fund (NELFund), says it has disbursed more than N2.5 billion institution fees to 12 schools across the country.

    The Spokesman of the Fund, Nasir Ayitogo, in a statement on Friday in Abuja, said that 22,120 students benefited from the exercise.

    According to Ayitogo, the gesture is in alignment with President Bola Tinubu’s commitment towards enhancing educational opportunities for Nigerians.

    He said the strategic effort aimed to ensure that students who really need the funds could continue their education by lowering burden of financial constraints.

    Ayitogo said that disbursements were made based on each institution’s academic calendar – beginning of session.

    “So far, six of the 12 institutions have received full payment of their institutional fees, covering over 20,000 students.

    “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.

    “These disbursements will ensure that Nigerian students can proceed with their academic activities unimpeded, fostering peace of mind much needed for these students and their families,” he said.

    Ayitogo said NELFUND had also commenced the payment of upkeep to students in addition to the institution fees.

    According to him, this initiative will provide essential financial support for living expenses as N442 million has been allocated for the month of July.

    “The upkeep payments will benefit all 22,120 students across the 12 institutions, with more to come in the coming weeks and months.

    “This is reflecting the federal government’s commitment to the  overall well-being and academic success of Nigerian students in government institutions.

    “These figures highlight NELFUND’s unwavering dedication to ensuring that financial constraints do not impede academic pursuits.

    “NELFUND believes that these disbursements will significantly ease the financial burdens on students and their families, enabling them to focus on their studies and future careers”.