NELFUND disburses N1.33bn student loan to UNILAG

By Mariam Abeeb

The Nigerian Education Loan Fund (NELFUND) has confirmed the disbursement of N1.33 billion to the University of Lagos (UNILAG) for the 2025/2026 academic session.
This is contained in a statement by the Director, Strategic Communications, NELFUND, Mrs Oseyemi Oluwatuyi in Abuja on behalf of the Managing Director/CEO of NELFUND, Mr Akintunde Sawyerr.
Sawyerr said that the sum of N1.33bn was released to UNILAG on Jan. 19, in line with the approved disbursement schedule for the academic session.
He said that the funds were meant to cover 6,308 eligible UNILAG students who met all requirements under the student loan programme.
He said that the beneficiary lists were generated from verified institutional data submitted during the application and validation process.
Sawyerr also noted that following the disbursement to institutions, beneficiaries were expected to register and access academic activities without delay.
He added that NELFUND would consistently engage relevant officials of tertiary institutions to reconcile beneficiary lists, ensure timely application of funds to students’ accounts and promote clear communication to avoid misinformation.
He reaffirmed the Fund’s commitment to transparency and students’ welfare.
“The Fund is fully committed to prompt disbursement and proper application of approved student loan funds.
“It is also working closely with partner institutions to address administrative gaps,” he said.
The MD assured that efforts are ongoing to ensure that no eligible student was disadvantaged in the process.
He, therefore, urged students and other stakeholders to rely on official communications from the Fund and their institutions.
He assured that issues relating to the disbursement were being resolved.
Sawyerr also advised students to contact their institutions’ bursary or student affairs offices for clarification, while engaging UNILAG to conclude reconciliation.