LAUTECH verifies allocation of more than N1.4 billion in NELFUND support to its students for the year 2025

The Ladoke Akintola University of Technology, located in Ogbomoso, Oyo State, has verified the distribution of over N1.4 billion from the Nigerian Education Loan Fund to its beneficiaries in the year 2025.

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This confirmation was made by the institution's Registrar, Olayinka Balogun, in a statement released in Ibadan, the state capital, on a Friday, highlighting the university's harmonious relationship with the NELFUND management.

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The statement affirmed that the university is grateful for the support it receives from NELFUND, including the successful disbursement of over ₦1.4 billion in 2025, which has significantly alleviated financial pressures on students and expanded their access to education.

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During a pre-convocation press briefing, the university provided an update on the current application cycle, noting that approximately 19,000 students had applied for the NELFUND scheme.

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Of these applications, over 15,000 have been verified by the university, following established procedures, with 5,237 students already approved and awaiting disbursement, while other verified applications are at various stages of processing.

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However, portions of this update were misinterpreted, leading to the misconception that NELFUND was unwilling or unable to disburse funds, which the university has clarified is not the case.

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The university's intention was to highlight the progress made and reassure stakeholders that the process is ongoing, with the registrar stating that at no time did LAUTECH suggest any reluctance or failure on the part of NELFUND to disburse funds.

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The university remains committed to its strong partnership with NELFUND and other stakeholders, with the goal of ensuring students receive the necessary financial support to pursue their academic goals.

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According to the registrar, Olayinka Balogun, the university appreciates NELFUND's cooperation and dedication, and reaffirms its confidence in the scheme, with a commitment to continue working together.

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NELFUND has also clarified that the 5,237-student figure cited by LAUTECH represents the first verified batch it received from the institution for the current disbursement cycle, which was submitted within the past week.

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This batch has already been processed and approved by NELFUND and is undergoing final administrative checks before payment, with a financial commitment of N1.57 billion.

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NELFUND has stressed that loan approval does not immediately translate to payment, as each application must pass through structured verification and financial processing, urging beneficiary institutions to exercise caution in public communications to avoid creating unnecessary anxiety among students.