The Nigerian Education Loan Fund (NELFund) has disbursed N1.33 billion to the University of Lagos (UNILAG) to support students for the 2025/2026 academic session.
In a statement issued on Friday, Oseyemi Oluwatuyi, NELFund’s director of communication, said the funds were released on January 19 in line with the approved disbursement schedule. According to her, the payment will cover 6,308 eligible UNILAG students who successfully met all requirements under the student loan programme.
Oluwatuyi explained that the list of beneficiaries was compiled using verified institutional data submitted during the application and validation process. She added that students who benefited from the disbursement are expected to proceed with registration and academic activities without delay.
She further assured that NELFund is committed to ensuring timely crediting of funds to students’ accounts and maintaining clear communication to prevent misinformation. Oluwatuyi also emphasized that efforts are ongoing to ensure no eligible student is excluded, advising students to contact their institutions’ bursary or student affairs offices for further clarification where necessary.
Meanwhile, Mustapha Iyal, NELFund’s director of operations, recently disclosed that outstanding arrears owed to students under the scheme would soon be settled. He said more than 11,000 students were affected by delays amounting to about N927.98 million, attributing the setback to technical and operational challenges.
Iyal added that plans are underway to expand the scheme in the 2026/2027 academic session, noting that the backlog of applications grew due to issues related to the application process and, in some cases, students’ failure to complete required steps.
