The University of Calabar (UNICAL) has confirmed the receipt of ₦15,866,000.00 from the Nigeria Education Loan Fund (NELFUND) as part of the second batch of the 2023/2024 student loan disbursement. The disbursement, received on 12th March 2025, is aimed at supporting 198 students of the institution, located in Calabar, Cross River State.
This confirmation was made in an official letter dated 3rd April 2025 and signed by the Vice-Chancellor of the university, Professor Florence Banku Obi. Addressed to the Managing Director/CEO of NELFUND, the letter acknowledged the fund as a key support system in assisting indigent students to access quality education without financial barriers.
Professor Obi commended the efforts of the NELFUND team and praised the initiative for its impact on student welfare and academic continuity. She expressed optimism that the ongoing collaboration between UNICAL and NELFUND would ensure seamless access to education financing for all interested students of the institution.
“This second batch disbursement reflects a strong commitment to student success and national educational development,” the Vice-Chancellor stated. She further encouraged sustained partnerships and communication between higher institutions and the loan fund body to improve the reach and efficiency of the scheme.
The Nigeria Education Loan Fund was set up by the Federal Government to bridge financial gaps in tertiary education by providing accessible loans to students.
With the current phase of disbursements underway across the country, stakeholders hope the initiative will reduce student dropout rates and promote inclusive learning opportunities nationwide.
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