The management of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, has confirmed the disbursement of over N1.4 billion from the Nigerian Education Loan Fund (NELFUND) to its students in 2025.
In a statement issued on Friday, April 17, 2026, in Ibadan by the Registrar, Olayinka Balogun, the institution described its relationship with NELFUND as cordial and productive, expressing appreciation for the support provided to students.
“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 significantly eased financial pressures and expanded access to education for our students,” the statement read.
Balogun explained that during a pre-convocation press briefing, the university provided updates on the current application cycle, noting that about 19,000 students applied for the scheme, while over 15,000 applications had been verified.
He added that within the ongoing 2025/2026 academic session, 5,237 students have been approved and are awaiting disbursement, with other verified applications at various stages of processing.
The university, however, clarified that parts of the update were misinterpreted, leading to the impression that NELFUND was unwilling or unable to release funds.
“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,” the statement added.
The registrar reaffirmed the institution’s commitment to its partnership with NELFUND, noting that efforts would continue to ensure students receive the financial support needed for their academic pursuits.
Meanwhile, NELFUND also issued a clarification on Friday, April 17, 2026, stating that the figure of 5,237 students referenced by LAUTECH represented the first verified batch submitted by the university for the current disbursement cycle.
In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, the agency disclosed that the batch—valued at N1.57 billion—had already been processed and approved and was undergoing final administrative checks before payment.
“We confirm that this batch has already been duly processed and approved and is currently progressing through the final stages of the disbursement workflow, including Audit and Finance and Accounts, in line with established procedures,” the statement read.
NELFUND emphasised that loan approval does not translate to immediate payment, as each application must pass through structured verification and financial processing stages.
The agency also urged institutions to exercise caution in public communications, warning that misleading statements could create unnecessary anxiety among students and undermine confidence in the scheme.
