The Nigerian Educational Loan Fund (NELFUND) has said it would disburse the sum of ₦850m to tertiary institution students today (Wednesday).

The Nigerian Educational Loan Fund (NELFUND) has said it would disburse the sum of ₦850m to tertiary institution students today (Wednesday).
The Managing Director of the Fund, Akintunde Sawyer, made this known during a press briefing in Abuja on Wednesday.
According to Akintunde, this is apart from the over ₦1.7bn that has been disbursed to about 20,000 students.
“The sum of N850m will be leaving the account of NELFUND today to institutions. This is apart from the N1.7bn naira that has already been disbursed.”
Earlier, Sawyer revealed that the Fund had disbursed institutional fees to 20,000 students through their institutions.
He also noted that a total of 260,000 loans including institutional fees and upkeep have been approved.
No fewer than 1.2 million students are expected to benefit from this cardinal programme of President Bola Tinubu’s administration.
It would be recalled that President Bola Tinubu had approved ₦35bn for the take-off of the scheme after signing the law backing the scheme on April 3.
See Full Address By Sawyer Below:
ADDRESS BY MR AKINTUNDE SAWYERR, MANAGING DIRECTOR/CEO OF THE NIGERIAN EDUCATION LOAN FUND (NELFUND) ON WEDNESDAY, 31st JULY, 2024.
Protocols.
It is with immense pleasure and a deep sense of responsibility that I stand before you today to announce a significant milestone in our collective efforts to enhance the educational landscape of our great nation.
This occasion marks a testament to our shared commitment to ensuring that higher education is accessible to all deserving Nigerians, regardless of their financial background.
Firstly, I would like to acknowledge the presence of the Honourable Minister of State for Education, Dr Yusuf Sununu who is with us today on a one-day working visit.
Your presence, Honourable Minister, underscores the importance of this initiative and highlights the government’s unwavering support for the advancement of education in Nigeria. We are honored to have you here and grateful for your continuous advocacy and leadership in the educational sector.
I must also extend our Excellency, President Bola Ahmed Tinubu (GCFR). His visionary leadership and unwavering dedication to the advancement of education in Nigeria have driving forces behind this initiative.
Under his administration, we have seen a renewed focus on the empowerment of our youth through education, and today’s announcement is a direct result of his commitment to this cause.
Mr. President, your steadfast support and belief in the potential of Nigerian students have made this possible, and we are deeply grateful.
I am delighted to share that following Mr President’s directive, NELFUND has been able to disburse students’ institutional fees amounting to N1,172,388,340.00 for 20,000 students (100% paid) in esteemed institutions across the country.
These institutions were carefully selected based on their academic calendar. Disbursement to other institutions will be made at the beginning of their sessions to ensure a transparent and equitable distribution of resources.
Within these institutions, a total of 11,083 students are the beneficiaries who applied for the loans and their tuition was paid 100 per cent.
This financial aid will enable them to focus on their studies without the added burden of financial worry. It is our belief that by investing in these students, we are investing in the future of Nigeria.
In addition to the tuition charges, we are also cognizant of the need for upkeep support. The payment of upkeep stipends will be conducted in the coming week with the utmost transparency and security.
We are collaborating with several key agencies and institutions to ensure this. The Nigerian Financial Intelligence Unit (NFIU), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) will work alongside the various banks involved in this process.
Furthermore, We are excited to announce that we will be launching a series of new skills training programs in the coming weeks. These programs are designed to empower Nigerians with the knowledge and expertise needed to excel.
Our collective aim is to minimise any potential leakages and to prosecute any wrongdoing swiftly and effectively.
All parties in the value chain are committed to upholding the highest standards of integrity and accountability. By doing so, we aim to build and maintain the trust of all stakeholders involved in this initiative.
We cannot overlook the critical roles played by our various partners too numerous to mention in this initiative. Their collaboration has been instrumental in setting up a robust and transparent system for the disbursement and management of funds.
Additionally, the support from the institutions themselves has been invaluable in ensuring that the process is smooth and that the students receive their funds promptly.
Today’s announcement is a testament to President Tinubu’s unwavering dedication to the education sector and the future of our youth.
I extend my heartfelt gratitude to all our partners, institutions, and stakeholders for their invaluable support in making this vision a reality.
Super Falcons head coach Justine Madugu says he is not afraid of losing his job despite mounting pressure following Nigeria’s failure to qualify for the 2027 FIFA Women’s World Cup.
Madugu’s future has come under intense scrutiny after the Super Falcons suffered a 2-1 defeat to South Africa in the decisive CAF play-off in Morocco.
The loss ended Nigeria’s remarkable record of qualifying for every edition of the FIFA Women’s World Cup since the tournament began in 1991.
For the first time since 1991, Nigeria will miss the Women’s World Cup.
The pressure on Madugu intensified after the Super Falcons failed to secure automatic World Cup qualification at the WAFCON.
With calls growing for the Nigeria Football Federation (NFF) to make changes to the technical setup, Madugu insists he is prepared to accept whatever decision the football authorities make.
The coach said representing Nigeria has been a privilege and that he has no fear of being relieved of his position.
“I am not afraid of being sacked. To the glory of God, I have served my country. It was a privilege that was given to me,” Madugu said.
He added, “So far, I have played almost 28 games, won 19, lost four and drawn four. But this defeat came at crucial moments that people did not expect.”
Islamic cleric, Sheikh Ahmad Gumi, says it is the responsibility of the government to use public funds to support marriage arrangements in states operating under Shariah law.
In a post on his Facebook page on Thursday, Gumi argued that governments in Shariah-governed societies have a duty to address social needs arising from the prohibition of sexual relationships outside marriage.
The Islamic scholar noted that government intervention to assist people who cannot afford marriage should be viewed as part of responsible governance, especially where prostitution, fornication, adultery and promiscuity are prohibited by both religious principles and state laws.
According to him, public resources could legitimately be used to support young people in urgent need of marriage, as well as women who face limited opportunities to find suitable spouses.
“In a Shariah law-driven state, where prostitution, fornication, adultery, and promiscuity are prohibited by both divine and state laws, using public funds to facilitate the marriage of women who are in excess of the available pool of eligible men, or of any young person in dire need of marriage, is a legitimate and responsible component of good governance,” he wrote.
President Bola Tinubu decried the big task of successfully managing a democratic government, highlighting what he described as
It’s twists, turns, hills and valleys, even as the president assured Nigerians that the nation’s refineries will bounce back.
The President also lamented that the expected benefits from the introduction of Compressed Natural Gas (CNG) are going into the pockets of truck owners.
This came as the President of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Comrade Salimon Akanni Oladiti, pleaded with President Tinubu to help stop the casualisation of workers in the oil industry.
Speaking when he received the NUPENG leadership at the Presidential Villa, Abuja, the President said the union has been a very good partner in government’s progress.
“You occupy a very critical nerve of the economy of this country,” he said.
He recalled the promise he made while seeking the presidency that he would remove the fuel subsidy and the threat by oil and gas workers to down tools. “We had threat of possible strike and something, and I served notice; you may strike all you want, but fuel subsidy will be gone. And today, to the benefit of our great country.”
“I will soon publish how it is being utilized,” he said, adding that workers at local, state and federal levels are reaping the benefits of subsidy removal through prompt payment of salaries, while landmark infrastructural projects are underway across the country.
“Yes, the economy is not child’s play. It’s a system of financial re-engineering and reset that you impress, and I want to thank you for the cooperation, collaboration and understanding.
“But I’m glad you have seen the effect of being able to find funding for long-term projects: Lagos–Ibadan Road, Abuja–Kaduna, Abuja–Kano, Sokoto–Badagry and other highways and road networks. It’s all for the good of our people and our economy.
“Equally, the introduction of compressed natural gas — well, I will appeal to you: we will do more and encourage you, but ask your drivers to let the benefits trickle down to commuters too, because whatever benefit is coming from CNG is going into the pockets of truck owners. It’s not spreading as fast as I would like, but it should spread.
“The refineries you mentioned are going to come back to work. We’re just building a very firm reset and structural reworking of the economics of it. Ordinary flame and smoke from a refinery doesn’t mean that it’s working until it’s profitable and yields the value for which it was built.
“I’m not a man who will look back and blame everyone, because I’ve accepted the assets and liabilities of my predecessors. No matter what happened in the past years, it’s my responsibility now as President to fix it and make it work for the greatest common good of our population. I take responsibility for that, and I’m going to do it.”
He added: “It’s not easy to manage a democratic regime, full of twists and turns, hills and valleys. But through perseverance, endurance and good determination we can bring about relief — like the joy of a newborn baby after a difficult pregnancy. Motherhood is painful, but the joy is everlasting. I promise you, you will enjoy a better Nigeria.”
Speaking earlier, NUPENG president Comrade Oladiti appealed to the President to check the casualisation of workers in the oil industry.
The NUPENG president, who described the trend as unwholesome, expressed concern that efforts to make oil companies, particularly in the upstream sector, stop the practice have been constantly rebuffed.
He said: “Your Excellency, our relationship with the international oil companies and indigenous players in the upstream sector has been very cordial. However, we want to seize this opportunity to bring to your attention an unhealthy trend we have been trying to correct with little to no success. It is the casualisation of workers, particularly in the upstream sector.
“For a sector that is strategic and taken as the economic jugular of the nation, NUPENG and its counterpart PENGASSAN have been tolerating these unwholesome practices, knowing full well the enormous disruption that any industrial action could cause to the economy.
“We also do not want to be seen as hostile to the Minister of Labour, Muhammad Maigari Dingyadi, who has been very supportive and operates an open-door policy in his relationship with our union.
“We have engaged the management of some of the affected companies without results. Mr. President, we urge you to use your good offices to stop the casualisation of workers in our sector.”
While commending the present administration for rehabilitation and dualisation of federal highways — which he noted will ease movement of petroleum trucks — Oladiti also appealed to President Tinubu to see to the resuscitation of the Nigerian Pipelines and Storage Company (NPSC) depots across the country.
He maintained that injecting life into the depots would complement the ongoing efforts to revive the ailing refineries.
He said: “We’ve seen real progress in the rehabilitation of federal highways, making journeys safer for our tanker drivers.
“We also want to commend your administration’s move to revive the Warri and Port Harcourt refineries through partnership with Chinese firms. Your Excellency, we humbly request that the same energy and drive to inject life back into the refineries be extended to the decaying Nigerian Pipelines and Storage Company depots across the country.
“We strongly recommend they be handed over to private investors to manage under an equity arrangement.”
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