The Nigerian Education Loan Fund (NELFUND) has disbursed monthly stipends of N20,000 for July to 20,371 students across six tertiary institutions.

Mr Akintunde Sawyerr, Managing Director of NELFUND, said the disbursement reinforces President Bola Ahmed Tinubu’s commitments to supporting Nigerian students by ensuring financial stability throughout their academic journey.

According to a statement from the Fund, signed by Director of Finance and Accounts, Mr Ibom Uche, students from the institutions whose fees have been paid by NELFUND have started receiving the July stipends.

The institutions whose include: Bayero University, Kano, Federal University Dutse -Ma, Katsina, University of Ilorin, Kwara, University of Benin, Edo, University of Ibadan, Oyo and University of Maiduguri, Borno.

Uche, said NELFUND was also working to initiate the payment process for students from about 55 additional tertiary institutions, with completion anticipated within the next two weeks.

Additionally, the President has committed a further N50 billion from recovered proceeds of crime to support the initiative.