The Nigerian Education Loan Fund has released N1.33 billion to the University of Lagos to support thousands of students enrolled for the 2025/2026 academic session, marking another major funding intervention in the federal student loan scheme.
According to the agency, the disbursement targets eligible undergraduates who successfully meet all verification and documentation requirements under the programme, easing financial pressure as academic activities intensify.
Moreover, NELFund confirmed that the funds were transferred to the institution in January as part of its scheduled rollout for the session.
The intervention is expected to directly benefit 6,308 students whose records were validated through institutional submissions.
Providing clarity on the process, NELFund spokesperson Oseyemi Oluwatuyi said the beneficiary list was drawn strictly from verified data supplied by the university during the application and confirmation stages.
“This disbursement reflects our commitment to accuracy and fairness.
“Only students who satisfied all conditions were captured, and the process followed institutional records,” she said.
Furthermore, Oluwatuyi stressed that beneficiaries are expected to proceed with their registration and academic engagements without delays, noting that access to learning should not be hindered by funding gaps.
She added that the agency is prioritising prompt crediting of student accounts and sustained communication to prevent confusion or misinformation.
“We are working closely with institutions to ensure transparency and timely application of these funds,” she said.
However, NELFund acknowledged earlier challenges affecting some beneficiaries nationwide.
The agency recently disclosed that over 11,000 students experienced delayed payments amounting to about N927.98 million due to technical and operational setbacks.
NELFund’s Director of Operations, Mustapha Iyal, said the delays were not permanent and assured affected students that outstanding arrears would be settled.
“These issues are being resolved, and no eligible student will be left behind,” he said.
Iyal also revealed that the growing backlog was linked to application-related errors and incomplete submissions by some applicants, adding that the scheme is being reviewed ahead of a planned expansion in the 2026/2027 academic session.
Meanwhile, students seeking clarification have been advised to contact their institutions’ bursary or student affairs units while NELFund continues efforts to streamline the programme and improve future disbursements.