The management of Ladoke Akintola University of Technology has confirmed the disbursement of over ₦1.4 billion from the Nigerian Education Loan Fund (NELFUND) to its students in 2025.
In a statement issued on Friday in Ibadan, the Oyo State capital, the university’s Registrar, Olayinka Balogun, described the institution’s relationship with NELFUND as cordial and productive.
He said the fund’s support had significantly eased financial pressures on students and expanded access to education.
“We affirm that the university enjoys a cordial and productive relationship with NELFUND and remains deeply appreciative of its invaluable support, including the successful disbursement of over ₦1.4 billion in 2025,” the statement read.
Balogun explained that during a recent pre-convocation briefing, the university provided updates on the ongoing application cycle, noting that about 19,000 students applied for the loan scheme, with over 15,000 applications already verified.
He added that for the 2025/2026 academic session, 5,237 students have been approved and are awaiting disbursement, while other verified applications are at various stages of processing.
The university, however, clarified that parts of the update were misinterpreted, leading to the erroneous impression that NELFUND was unwilling or unable to release funds.
“We wish to state clearly that this is not the case. At no time did LAUTECH suggest any reluctance or failure on the part of NELFUND,” Balogun said, stressing that the intention was to highlight progress and reassure stakeholders that the process remains on course.
He reaffirmed the institution’s commitment to its partnership with NELFUND and other stakeholders, noting that efforts would continue to ensure students receive the financial support needed to pursue their academic goals.
Meanwhile, NELFUND clarified that the 5,237 students referenced by the university represent the first verified batch submitted for the current disbursement cycle, which was received only within the past week.
In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, the agency said the batch has already been processed and approved and is currently undergoing final administrative checks.
The agency disclosed that the batch represents a financial commitment of ₦1.57 billion, adding that loan approval does not translate to immediate payment, as applications must pass through established audit and financial procedures.
NELFUND also urged beneficiary institutions to exercise caution in public communications, warning that premature or misleading statements could create unnecessary anxiety among students and undermine confidence in the scheme.
