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NELFUND Disburses ₦86bn To 449,000 Beneficiaries

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The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of ₦86 billion to 449,000 students, selected from a total of 735,000 applications submitted under its student loan scheme.

 

NELFUND Managing Director, Akintunde Sawyerr, in an interview today, detailed the scope of the loan programme and its daily growth.

“As of this morning, 742,000 students have registered on our portal and been cleared as potential applicants. Of that number, 735,000 have applied for the loan, meaning they have completed the process and formally submitted their applications.

“The number of students who have benefitted, meaning those whose school fees have been paid, or whose school fees and stipends have been paid in instalments, stands at 449,000. Applications are growing by about 3,000 to 3,500 per day.

So far, ₦47 billion has been paid to 218 federally and state-owned tertiary institutions, including universities, polytechnics, and colleges of education, while ₦38 billion has been disbursed as stipends. In total, we have disbursed ₦86 billion,” he said on Friday.

Sawyerr also explained that the turnaround time for loan processing is between 30 and 45 days, provided applicants meet all criteria.

“We’re not working to a deadline to pay people; we’re working to a process that is robust, fully auditable, and accountable. Once an application is processed, we send it to the applicant’s institution for verification to confirm the student’s identity, course of study, and fees.

“Only after receiving a signed confirmation from the school do we proceed, and that internal process takes another two to three weeks. If there are issues with any individual or institution during this process, payment will not be made until they are resolved,” he said.

Weighing on the ongoing investigation into the scheme, the NELFUND chief acknowledged concerns about accountability.

“Managing public funds is subject to probity, and vigilance is necessary in the process. There must be responsibility at every stage,” he said, adding that there had been a case of double payment and alleged collusion.

ICPC building. Photo: Facebook/ICPC Nigeria

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced in May that it had opened an investigation into alleged discrepancies in the disbursement of student loans, claiming ₦71 billion was unaccounted for.

The ICPC said it was probing reports of illegal deductions, ranging from ₦3,500 to ₦30,000, from students’ institutional fees by some schools. However, NELFUND denied any mismanagement.

 

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Atiku: I’ll Restore Subsidy If Elected In 2027

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The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has vowed to restore fuel subsidies if elected President in the 2027 general elections.

 

Atiku stated this during a Hausa-speaking interview on the PAP show on Wednesday, saying anyone who had stolen funds meant for fuel subsidy would be made to return the money if he assumes office.

Tinubu announced the end of petrol subsidy during his inauguration on May 29, 2023, describing the scheme as unsustainable.

On Wednesday the Federal Government said the removal of the petrol subsidy and the liberalisation of the naira have generated N15.8 trillion in savings for the federation between June 2023 and December 2025.

However, during the interview, the former Vice President said despite the removal of fuel subsidy, the Tinubu administration had failed to improve the lives of Nigerians.

Atiku acknowledged that he initially supported the removal but said developments since then had changed his position.

“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money?” Atiku said.

The presidential candidate pledged to reverse the policy if he defeats Tinubu in the January 2027 presidential election.

He added, “If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money. Now it has been removed. Where is the money? If the funds were used to improve healthcare, education, insecurity, security and youth empowerment, things would have been better.”

Atiku also questioned the N15 trillion the Tinubu administration said it had saved, arguing injustice and corruption among political leaders were the main reasons Nigerians are suffering.

He said in the past, those who stole public funds were forced to return their loots.

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Ojudu Tackles Co-APC Members Over Abandoned Project Comment Attack.

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An All Progressives Congress, APC chieftain, Babafemi Ojudu, has responded to recent criticism from party members over his comment on the alleged abandonment of construction work on the Akure–Ado-Ekiti road.

 

Ojudu, a former presidential media aide, had drawn the attention of the government to the state of the road, which he said leads to the city where he lives.

However, his post reportedly attracted backlash from some members of the ruling party, who viewed Ojudu’s comments as an attack on President Bola Tinubu’s administration.

Reacting to the criticism in another Facebook post, Ojudu questioned why he was being attacked for drawing attention to an abandoned public project.

He argued that demanding accountability from the government is a citizen’s right and should not be interpreted as disloyalty to a political party.

“What manner of citizens are we becoming? Does belonging to a political party require surrendering one’s conscience, citizenship and right to demand accountability? Must party loyalty mean applauding everything and questioning nothing?” he asked.

Ojudu said drawing attention to abandoned public infrastructure that affects citizens and communities should be regarded as a patriotic responsibility.

“My membership of the APC does not deprive me of my rights and responsibilities as a Nigerian. I can commend the government when it performs well and question it when something appears to have gone wrong.

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2027: PFN Leader Wants Youths To Emulate Davido’s Role In Osun Poll

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As campaigns for the 2027 general elections commence, former National Security Director of the Pentecostal Fellowship of Nigeria, PFN, Apostle Eugene Ogu, has urged Nigerian youths to emulate the civic engagement demonstrated by Afrobeat music star, David Adeleke, popularly known as Davido, during the recent Osun State governorship election.

 

Ogu, who spoke in Port Harcourt on Wednesday while reflecting on the August 15 election, expressed concern over possible victimisation of Davido because of his outspoken support for his uncle, Governor Ademola Adeleke, who won the poll.

He commended the musician for what he described as courage and active participation in the electoral process, urging relevant authorities and Nigerians to ensure his safety.

The cleric also questioned reports that prominent Nigerians, including Senate President Godswill Akpabio and businessman Aliko Dangote, had contacted Davido during the election and urged him to pull down a social media post.

Ogu said calls from individuals of such stature could have far-reaching implications, urging Nigerians and the international community to scrutinise the circumstances surrounding the alleged contacts and Dangote’s reported connection with the Osun election.

He said the participation of Osun voters and the role played by Davido demonstrated that Nigerians could resist attempts to manipulate elections.

According to him, the development offered hope ahead of the 2027 general elections, but he warned against any action that could threaten Davido or other celebrities who might become prominent voices in the electoral process.

Ogu also decried the worsening economic hardship in the country, comparing the situation to the biblical Samaria, where severe hunger led to desperate acts.

He alleged that economic hardship had pushed some young Nigerians into kidnapping, banditry and armed robbery, while forcing some women into prostitution as a means of survival.

The cleric further expressed concern over alleged sexual exploitation in tertiary institutions and the increasing cases of suicide, which he attributed to economic difficulties and inability to meet family responsibilities.

He urged Nigerian youths to participate actively in the 2027 elections by voting, protecting their ballots and following the collation process until the final results are announced.

“It was so embarrassing to see the Senate President, who is supposed to be the custodian of the law, with about 19 APC governors and political thugs invade Osun with billions to pervert the election result against the electoral law.

“But they were frustrated by the resilience of Osun people and Davido. They are my heroes,” he said.

Ogu also condemned what he described as the use of food items and monetary inducements to influence voters, saying the practice had contributed to the deterioration of living conditions in the country.

He urged Nigerians to learn from the Osun election and reject attempts to manipulate the electoral process in 2027.

The PFN leader further cautioned Nigerians against allowing religious and ethnic sentiments to determine their voting decisions, urging them to support candidates based on competence and integrity.

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