Ladoke Akintola University of Technology has confirmed the disbursement of over ₦1.4 billion from the Nigerian Education Loan Fund to students in 2025.
The confirmation was contained in a statement issued on Friday by the university’s Registrar, Olayinka Balogun, who noted that the institution maintains a cordial and productive relationship with NELFUND.
“We affirm that the University enjoys a cordial and productive relationship with NELFUND… including the successful disbursement of over ₦1.4 billion in 2025, which significantly eased financial pressures and expanded access to education for our students,” he said.
Mr Balogun explained that the update followed clarifications made during the university’s pre-convocation briefing.
Application progress
Providing further details, Mr Balogun disclosed that about 19,000 students applied for the loan scheme, with more than 15,000 applications already verified.
“Specifically, we noted that approximately 19,000 students applied for the NELFUND scheme, and over 15,000 applications have already been verified,” he said.
He added that 5,237 students have been approved in the current 2025/2026 academic session and are awaiting disbursement, while others remain at various stages of processing.
Clarification on reports
Mr Balogun clarified that earlier comments had been misinterpreted, leading to the 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,” he said.
“Our intention was solely to highlight the progress achieved and to reassure stakeholders that the process is ongoing and on course.”
NELFUND response
In a related statement, NELFUND, through its Director of Strategic Communications, Mr Oseyemi Oluwatuyi, confirmed that the 5,237-student batch was recently submitted and already undergoing final processing.
“We confirm that this batch has already been duly processed and approved and is currently progressing through the final stages of the disbursement workflow,” he said.
The agency disclosed that the approved batch represents a financial commitment of ₦1.57 billion.
Processing timeline
NELFUND explained that loan approval does not translate to immediate payment, as applications must pass through verification, audit, and financial procedures before disbursement.
The agency also cautioned institutions against premature or misleading public statements that could create unnecessary anxiety among students.
Commitment to students
Mr Balogun reaffirmed the university’s commitment to its partnership with NELFUND and ensuring students receive needed financial support.
“Together, we will continue to ensure that students receive the financial support they need to pursue their academic goals,” he said.
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