The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer, on Monday, disclosed that the student loan is targeting to have about 1.2 million students on the scheme in 2025.
Speaking on Channels Television’s Politics Today, the NELFUND boss noted that the students would come from government-owned tertiary institutions.
Regarding disbursement of the loan, Sawyer said the N20,000 stipend currently given to students might be upwardly reviewed next year with 94,000 students beneficiaries of the funds that have been disbursed so far summed up around N23 billion.
READ ALSO
Furthermore, Sawyer revealed that the Federal Inland Revenue Service (FIRS) is currently the main funders of the scheme. He, however, noted that the Scheme has also received some support from the Tertiary Education Trust Fund (TETFUND).
The MD maintained that the scheme is currently not lacking funds as it currently has over N130 billion in it coffers and expecting more.
On the spread of beneficiaries according to location, Sawyer revealed that the highest beneficiaries from the loan scheme are from the Northern part of the country.
