FUTMINNA Minna Confirms Payment of ₦192 Million NELFUND Loan for 3,209 Students

Spread the love

In a significant financial development aimed at supporting Nigerian students in tertiary institutions, the Federal University of Technology, Minna (FUTMINNA) has officially confirmed the receipt of the second batch of disbursements from the Nigeria Education Loan Fund (NELFUND). This update comes as a relief to thousands of students who rely on government-backed financial assistance to fund their education.

According to an official letter dated April 7, 2025, and signed by the Vice-Chancellor of FUTMINNA, Professor Faruk Adamu Kuta, the university acknowledged receiving a whopping ₦192,379,550.00 (One Hundred and Ninety-Two Million, Three Hundred and Seventy-Nine Thousand, Five Hundred and Fifty Naira). This substantial amount was paid directly into the university’s account with the Central Bank of Nigeria on March 5, 2025.

What the NELFUND Payment Covers

The total disbursed amount is allocated to 3,209 students of FUTMINNA, with each student receiving ₦59,950. This financial aid is part of the federal government’s ongoing initiative to reduce the burden of tuition and other educational expenses for students in public tertiary institutions across Nigeria.

The disbursement was made under the Nigeria Education Loan Fund (NELFUND), an intervention scheme designed to ensure that qualified Nigerian students do not drop out of school due to financial hardship. The loan scheme is managed through various phases, with the recent payment representing the second batch to FUTMINNA students.

Receipt and Documentation

The letter further notes that the payment has been officially recorded with the University Receipt Number 156451, ensuring transparency and proper documentation of the funds received. The letter was directed to the Executive Director of Operations at NELFUND, headquartered at the NIRSAL Office in Maitama, Abuja.

In addition, the document bears a confirmation stamp from the NELFUND office, indicating that it was officially received on April 9, 2025.

A Boost for Students and Higher Education

This development marks a positive step in the implementation of student-focused funding programs in Nigeria. For students at FUTMINNA, the financial relief couldn’t have come at a better time, especially as economic challenges continue to affect families across the country.

Educational stakeholders have repeatedly emphasized the need for sustainable student loan systems to bridge the gap between rising educational costs and the financial capabilities of students and their sponsors. Initiatives like NELFUND not only reduce financial stress but also encourage academic concentration and improved performance among students.

Final Thoughts

The confirmation of this ₦192 million loan disbursement is a testament to FUTMINNA’s commitment to ensuring students access every available opportunity to ease their academic journey. It also highlights the role of NELFUND as a critical player in Nigeria’s education sector reform.

Students who have benefited from this batch of disbursement are advised to use the funds judiciously and continue to focus on their academic pursuits. As the government continues to expand the reach of this fund, there is hope that more institutions and students will benefit in the near future.

What the NELFUND Payment Covers

Receipt and Documentation

A Boost for Students and Higher Education

Final Thoughts

Leave a Reply Cancel reply

Related News

FUTMINNA Mourns the Loss of 400L ABE Student, Shakira Arike

OPay Announces ₦1.2 Billion Scholarship Initiative for FUTMINNA Students: Empowering Future Leaders