The management of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, in Oyo State has confirmed the disbursement of over ₦1.4 billion Nigerian Education Loan Fund (NELFUND) to the beneficiaries in 2025.
A statement released by the Registrar of the institution, Olayinka Balogun, in Ibadan, the state capital, on Friday, affirmed a cordial and productive relationship with the management of the NELFUND.
“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.
“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,” the statement read.
The registrar added that the university remains firmly committed to its strong partnership with NELFUND and other stakeholders.
“Together, we will continue to ensure that students receive the financial support they need to pursue their academic goals. We sincerely appreciate NELFUND’s continued cooperation and dedication, and we reaffirm our confidence in the scheme,” Balogun stated.
NELFUND had earlier clarified that the 5,237-student figure cited by LAUTECH represented the first verified batch it received from the institution for the current disbursement cycle, and that the submission was only made within the past week.
In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, and issued in Abuja on Friday, the agency said the batch 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 said the approved batch represented a financial commitment of ₦1.57 billion, and stressed that loan approval did not translate to immediate payment, as each application must pass through structured verification and financial processing.
The agency urged beneficiary institutions to exercise care in public communications, warning that premature or misleading statements risked creating unnecessary anxiety among students and could undermine confidence in the scheme.
The PUNCH