The Nigerian Education Loan Fund has confirmed the disbursement of N1.33bn to the University of Lagos for the 2025/2026 academic session, marking another step in the rollout of the federal student loan programme.
In a statement issued in Abuja on Friday by the Director of Strategic Communications at NELFUND, Oseyemi Oluwatuyi, the Fund said “a total sum of N1,326,550,000 was successfully disbursed to the University of Lagos on January 19, 2026, in line with the approved disbursement schedule for the 2025/2026 academic session.”
According to NELFUND, the funds are meant to cover tuition and related fees for 6,308 eligible students of the University of Lagos who met all requirements under the student loan programme.
The Fund explained that beneficiary lists were generated using verified institutional data submitted during the application and validation process, adding that the approach was designed to ensure accuracy and fairness.
NELFUND noted that once disbursement is made to an institution, students are expected to complete registration and access academic activities without delay, as the payment removes a major financial barrier.
The agency said it works closely with tertiary institutions to reconcile beneficiary lists, ensure the timely application of funds to students’ accounts, and provide clear communication to students in order to prevent misinformation and unnecessary distress.
Speaking on the development, the Managing Director and Chief Executive Officer of NELFUND, Akintunde Sawyerr, reaffirmed the Fund’s commitment to transparency and student welfare.
“NELFUND remains fully committed to ensuring that approved student loan funds are disbursed promptly and applied appropriately,” Sawyerr said. “We are working closely with all partner institutions to resolve any administrative gaps and to ensure that no eligible student is disadvantaged.”
The Fund urged students and other stakeholders to rely on official communications from NELFUND and their respective institutions, noting that speculation often creates confusion around payment timelines.
It assured the public that necessary steps were being taken to address any outstanding issues swiftly, adding that students seeking clarification should contact their institution’s bursary or student affairs office.
NELFUND also said it is continuing engagement with the University of Lagos to conclude the reconciliation process and ensure full alignment of records for the session.
The disbursement comes as the Federal Government continues to position education as a central pillar of national development under the Renewed Hope Agenda.
At the 56th Convocation Ceremony of the University of Lagos, the Minister of Education, Tunji Alausa, delivered an address on behalf of President Bola Ahmed Tinubu, GCFR, where he highlighted ongoing reforms and investments in the education sector.
Alausa said he was especially proud to return to his alma mater, UNILAG, noting that it was his second time addressing a convocation at the institution.
“I conveyed President Bola Ahmed Tinubu’s message that education remains the bedrock of Nigeria’s national renewal under the Renewed Hope Agenda,” he said.
The minister outlined key interventions already impacting the sector, including over N161.9 billion disbursed through NELFUND, strategic investments in medical schools, hostels, simulation laboratories and university infrastructure, as well as enhanced TETFund interventions.
He also spoke about student and staff focused initiatives such as the Student Venture Capital Grants, TISSF, and the Entrepreneurship, Innovation and Business Incubation Certification programme.
According to Alausa, the EIBIC programme will kick off this year across 18 selected universities nationwide, and has already commenced at the University of Lagos where the idea was conceived by a professor.
“This is proof that Nigerian professors and students are not lacking in ideas or brilliance, but need the right support to turn research into solutions, knowledge into enterprise, and innovation into national impact,” he said.
The minister further encouraged young Nigerians to believe more deeply in the country, speak positively about Nigeria, and take pride in contributing to national progress.
The ministry said these combined measures reflect ongoing efforts to improve access, stability, and outcomes across Nigeria’s tertiary education system during the academic cycle nationwide for students and institutions.
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