NELFUND Disburses N78.155 Million To UNICROSS
The University of Cross River State has received a significant financial boost from the Nigerian Education Loan Fund (NELFUND), totaling ₦78.155 million.
This disbursement is part of President Bola Ahmed Tinubu’s initiative to alleviate financial burdens on young Nigerians seeking higher education.
Breakdown of Disbursements
The university received two tranches of NELFUND disbursements: first Tranche was ₦45,102,000, benefiting 587 students, received on October 31, 2024 while Second Tranche totaling ₦33,053,000, benefiting 679 students, was received on December 3, 2024.
University’s Appreciation
In a press statement, the Acting Vice Chancellor, Prof. Francisca Bassey expressed the university’s profound appreciation for the timely intervention of NELFUND.
“We commend the visionary leadership of His Excellency, Senator Bola Ahmed Tinubu, GCFR, President of the Federal Republic of Nigeria, for his policy initiatives aimed at alleviating the financial burden on young Nigerians aspiring to higher education but lacking the means to do so.”
Impact on Students and Institution
Prof. Bassey noted that this support has not only empowered the students by easing their financial burden but has also positively impacted the institution by reducing dropout rates and improving overall student performance and welfare.
“The University acknowledges the transformative effect of this initiative and looks forward to continued partnership with NELFUND in providing sustainable financial support to our students.”
National Impact
As of November 8, 2024, NELFUND has disbursed a total of ₦11,047,793,949.80 to 105,844 students across 98 institutions .
This initiative has significantly contributed to expanding access to tertiary education and ensuring that no willing student is left behind due to financial constraints.
“We are optimistic that future tranches will further strengthen the academic progress of our students and contribute to national development through the empowerment of a skilled and educated workforce,” Prof. Bassey concluded.