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The Nigerian Education Loan Fund (NELFUND) has paid ₦1.5 billion to 6,129 students in three institutions for the 2025/2026 academic session.
NELFUND disclosed this on Thursday in an update on its verified 𝕏 handle.
The beneficiary institutions, according to NELFUND, are Bamidele Olumilua University of Education, Science and Technology, Ekiti State; Sikiru Adetona College of Education, Science and Technology, Omu-Ajose, Ogun State; and the Edo State College of Nursing Sciences, Benin City, Edo State.
“From the disbursement analysis, BOUESTI received the highest amount of ₦1,360,920,800 released for 5,396 students in five tranches.
Read Also: NELFUND Confirms N1.5 Billion Disbursed Under Student Loan Programme
Sikiru Adetona College of Education, Science and Technology received ₦104,530,000 for 680 students while Edo State College of Nursing Sciences received ₦36,485,000 for 53 students.
Altogether, the Fund said the three institutions got ₦1,501,935,800 for 6,129 beneficiaries.
Channels Television has obtained letters from the three institutions acknowledging receipt of the funds.
The money had been credited into the accounts of the student beneficiaries, said the Registrar, Sikiru Adetona College, Dr Bukola Makinde.
“The said money had since been disbursed into the bank accounts of the beneficiaries of the students,” she said.
Makinde said the intervention was a major support that would enable students “to enjoy financial hitch-free academic progress.
The Provost, Edo State College of Nursing Sciences, Mabel Omobude, confirmed the receipt of the fund and pledged to use the money strictly for the purpose it was released.
“The disbursement will be wisely used strictly for its intended educational purposes in line with global best practices,” she said.
The college reiterated its “continued commitment to compliance, transparency and accountability in the administration of this facility,” she said.
The Vice-Chancellor, BOUESTI, Prof. Andrew Babatunde Omojola, said the university received the full ₦1,360,920,800 approved for its students in five tranches.
“This is to acknowledge the receipt of total sum of One Billion, Three Hundred and Sixty Million, Nine Hundred and Twenty Thousand, Eight Hundred Naira only, being total payment of the five tranches of student loan approved to 5,396 students of BOUESTI,” he said.
Omojola praised the Federal Government and the NELFUND management for the swift release of the funds.
“We want to appreciate the Federal Government and we sincerely applaud the Managing Director/CEO of NELFUND and his team for their efforts and efficiency in ensuring that the objectives of the scheme are achieved nationwide,” he added.
Reports say the student loan scheme was one of the Federal Government’s interventions aimed at widening access to tertiary education through easing the financial burden on students and their families.
