The Nigerian Education Loan Fund has announced the disbursement of more than N489 million in student loans to support the academic pursuits of students at Ladoke Akintola University of Technology, Ogbomoso, Oyo State.
The announcement, made via the official NELFUND X handle on Friday, details three separate funding tranches aimed at alleviating financial burdens and ensuring educational access for Nigerian students.
In the statement, NELFUND explained the disbursements saying, “We are pleased to announce the disbursement of funds to students of Ladoke Akintola University of Technology in three tranches: N8,670,000 to 52 students on September 5, 2024, N83,916,000 to 666 students on November 1, 2024, N397,152,000 to 1,553 students on March 5, 2025.”
The statement further emphasised the organisation’s dedication, noting, “We remain committed to supporting students in their academic journey.
“The initial tranche, disbursed on September 5, 2024, provided N8.67 million to 52 students, offering early financial relief to a select group.
“This was followed by a significantly larger disbursement on November 1, 2024, where ₦83.916 million was allocated to 666 students, reflecting an expanded reach.
“The most substantial tranche, totalling ₦397.152 million, was distributed on March 5, 2025, benefiting 1,553 students and underscoring NELFUND’s growing capacity to support higher education.
“This initiative aligns with NELFUND’s broader mission, established under the Student Loans (Access to Higher Education) Act of 2024, to remove financial barriers and promote equitable access to tertiary education across Nigeria. The phased approach to funding demonstrates a strategic effort to address the evolving needs of students over the academic year.”
The total disbursement of N489,738,000 to 2,271 LAUTECH students highlights NELFUND’s pivotal role in advancing President Bola Tinubu’s Renewed Hope Agenda, which prioritises education as a cornerstone of national development.
