Ladoke Akintola University Secures ₦1.4 Billion Education Loan Fund
Management at the Ladoke Akintola University of Technology (LAUTECH) in Ogbomoso, Oyo State, has confirmed the distribution of ₦1.4 billion from the Education Loan Fund to students in 2025. The announcement highlights the institution’s ongoing commitment to enhancing access to education amidst escalating financial demands on students.
Collaboration with NELFUND Strengthens Financial Support
Olinka Balogun, the university’s Registrar, issued a statement in Ibadan, revealing a productive partnership with NELFUND, the managing body overseeing the fund. Balogun expressed gratitude for NELFUND’s invaluable support, stating, “The successful disbursement of over ₦1.4 billion in 2025 has significantly eased financial pressures for our students.”
Update on Student Applications and Approvals
During a pre-convocation press conference, LAUTECH provided important updates regarding the current application cycle. Out of approximately 19,000 students who applied for the NELFUND scheme, over 15,000 applications have already undergone verification through established university processes.
Clarification on Fund Disbursement Process
For the 2025/2026 academic session, 5,237 students have received approval and are awaiting disbursement. Other verified applications are currently in various stages of processing. Balogun addressed recent misinterpretations suggesting that NELFUND was unresponsive, emphasizing, “LAUTECH has never indicated any hesitation or failure on the part of NELFUND.”
Reassurance of Ongoing Support for Students
Balogun reinforced the university’s commitment to its partnership with NELFUND and other stakeholders, stating, “Together, we will ensure that our students receive the financial support they need to pursue their academic goals.” This assurance is pivotal as the university aims to maintain confidence among students and stakeholders during the application processing period.
NELFUND’s Processing Timeline and Clarification
NELFUND clarified that the 5,237 approved students represent the first verified batch submitted within the current payment cycle. A statement issued in Abuja, signed by Strategic Communications Director Mr. Oseyemi Oluwatui, confirmed that these submissions had been processed and approved, with the final administrative checks underway.
Importance of Accurate Communication
NELFUND indicated that the approval translates to a financial commitment of ₦1.57 billion. However, it emphasized that approval alone does not ensure immediate disbursement, as each application must follow a structured verification and financial processing procedure. The agency urged institutions to exercise caution in their public communications to avoid creating undue anxiety among students, which could ultimately undermine trust in the funding system.
