The Ladoke Akintola University of Technology, Ogbomoso, has confirmed that its students received more than N1.4bn from the Nigerian Education Loan Fund in 2025, describing the scheme as a lifeline that has eased financial pressure on thousands of undergraduates.

In a statement signed by the Registrar, Olayinka Balogun, the university said it maintains a “cordial and productive relationship” with NELFUND and remains appreciative of the fund’s “invaluable support” to its student population.

Balogun explained that about 19,000 LAUTECH students applied for the loan scheme in the current application cycle, with over 15,000 applications already verified by the institution in line with laid-down procedures.

Within the 2025/2026 academic session, 5,237 students have so far been approved and are awaiting disbursement, while other verified applications are at various stages of processing. The registrar stressed that the university’s earlier briefing on these figures was misinterpreted in some quarters as suggesting reluctance or failure on the part of NELFUND to release funds.

“Portions of this update were misinterpreted, creating the unintended impression that NELFUND was unwilling or unable to disburse funds. We wish to state clearly that this is not the case. At no time did LAUTECH suggest any reluctance or failure on the part of NELFUND,” the statement clarified.

Balogun said the university’s intention was to highlight progress and reassure students and parents that the process remained “ongoing and on course.” He reaffirmed LAUTECH’s commitment to its partnership with NELFUND, noting that both institutions share a goal of ensuring that no qualified student is denied education on financial grounds.

NELFUND, in a separate statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, confirmed that the 5,237 students referenced by LAUTECH formed the first verified batch submitted by the university for the current cycle. The agency said the batch, representing a financial commitment of about N1.57bn, had been processed and approved and was undergoing final administrative checks, including audit and finance clearance, before payment.

The fund emphasised that loan approval does not translate into instant payment, as each application must pass through structured verification and financial workflows. It also urged universities to exercise caution in public communication to avoid creating unnecessary anxiety among students or undermining confidence in the loan scheme.