According to the Nigerian Educational Loan Fund, N850 million in tuition would be paid to institutions today, Wednesday, July 31.
This was disclosed during a press conference being held in Abuja by Akintunde Sawyer, the managing director of the Nigeria Educational Loan Fund.
This loan is not the same as the more than N1.7 billion given to roughly 20,000 pupils.
N850 million will be sent from the NELFUND account to institutions today. This is in addition to the N1.7 billion that has already been paid out.
Sawyer further mentioned that the Federal Government scheme is expected to help at least 1.2 million students, with a total of 260,000 loans—including maintenance and institutional fees—having been approved.
On April 3, President Bola Tinubu signed the legislation approving the plan.
