NELFUND Releases N1.33bn to UNILAG for 2025-2026 Academic Year

January 23, 2026

The Nigerian Education Loan Fund (NELFUND) has disbursed N1.33 billion to the University of Lagos (UNILAG) to support eligible students for the 2025/2026 academic session. The disbursement, which took place on January 19, 2026, is part of the approved student loan programme aimed at facilitating access to higher education for students in public tertiary institutions.

According to a statement released by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, a total of N1,326,550,000 was released to UNILAG. The funds are intended to cover tuition and related fees for 6,308 students who met all requirements under the student loan programme. Beneficiary lists were generated using verified data provided by the university during the application and validation process.

NELFUND emphasized that once funds are disbursed to institutions, students are expected to complete registration and participate in academic activities without delay. The agency also works closely with tertiary institutions to reconcile beneficiary lists, ensure timely application of funds to students’ accounts, and provide clear communication to prevent misinformation or undue distress among students.

Speaking on the development, NELFUND Managing Director and CEO, Akintunde Sawyerr, reaffirmed the Fund’s commitment to transparency and student welfare. He said,

“NELFUND remains fully committed to ensuring that approved student loan funds are disbursed promptly and applied appropriately. 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 stakeholders to rely solely on official communications from NELFUND and their respective institutions. It added that necessary steps are being taken to address any outstanding issues and that students seeking clarification should contact their institution’s bursary or student affairs office.

Established in April 2024 under the Nigeria Student Loan Scheme, NELFUND offers interest-free loans to students in public tertiary institutions to cover tuition fees and living costs. Applications for the programme opened in May 2024, targeting students from low-income backgrounds to reduce financial barriers to education. Loan recipients are required to repay the funds after graduation and securing employment.

As of January 23, 2026, the total amount disbursed under the student loan scheme stood at N174.56 billion, marking a significant investment in Nigeria’s public tertiary education sector and reinforcing the government’s commitment to supporting students’ academic pursuits.