LAUTECH disburses N1.4bn student loans to beneficiaries

The management of the Ladoke Akintola University of Technology, Ogbomoso, has confirmed the disbursement of over N1.4 billion from the Nigerian Education Loan Fund (NELFUND) to beneficiaries in 2025.

This is as it affirmed a cordial and productive relationship with the management of NELFUND.

The Registrar of the institution, Mrs Olayinka Balogun, in a statement made available to newsmen, said at no time did LAUTECH suggest any reluctance or failure on the part of NELFUND.

The statement noted that approximately 19,000 students applied for the NELFUND scheme, and over 15,000 applications have already been verified by the university in line with established procedures.

It read, “We affirm that the University enjoys a cordial and productive relationship with NELFUND, and we remain deeply appreciative of the Fund’s invaluable support, including the successful disbursement of over ₦1.4 billion in 2025, which has significantly eased financial pressures and expanded access to education for our students.

“During our pre-convocation press briefing, the University provided an update on the current application cycle.

“Specifically, we noted that approximately 19,000 students applied for the NELFUND scheme, and over 15,000 applications have already been verified by the University in line with established procedures.

“For the purpose of clarity, within the current 2025/2026 academic session, a total of 5,237 students have already been approved and are awaiting disbursement, while other verified applications are now at different stages of processing.

“Portions of this update were, however, misinterpreted in some quarters, creating the unintended impression that NELFUND was unwilling or unable to disburse 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.

“Our intention was solely to highlight the progress achieved and to reassure stakeholders that the process is ongoing and on course.”

Ladoke Akintola University of Technology remains firmly committed to its strong partnership with NELFUND and other stakeholders.

Together, the institution stated, efforts will continue to ensure that students receive the financial support they need to pursue their academic goals. It also expressed appreciation for NELFUND’s continued cooperation and dedication, while reaffirming confidence in the scheme.