The Nigerian Education Loan Fund (NELFUND) has clarified the delay in the disbursement of student loans to beneficiaries of the Ladoke Akintola University of Technology (LAUTECH), attributing the situation to unresolved institutional verification processes rather than lack of funds.
In a statement, NELFUND explained that loan payments to tertiary institutions are strictly tied to the completion of student data reconciliation and validation by the affected schools. According to the Fund, LAUTECH is yet to fully conclude some of the required internal processes, which has affected the release of funds to eligible students.
The Fund disclosed that over 12,700 LAUTECH students have already been verified under the federal student loan scheme and assured that efforts are ongoing to ensure that all outstanding issues are resolved promptly.
NELFUND stressed that the delay should not be used as grounds to deny verified students access to academic activities, including examinations. It urged the university management to allow affected students to continue their studies while reconciliation is being finalised.
The agency also reaffirmed its commitment to supporting LAUTECH students, noting that the university had previously received substantial disbursements under the scheme. In 2025, LAUTECH acknowledged receiving over ₦1.4 billion from NELFUND to cover tuition and upkeep allowances for beneficiaries.
NELFUND further stated that it remains in active engagement with LAUTECH authorities to conclude the verification process and enable the release of funds in the shortest possible time.
The federal student loan scheme, established to provide interest-free loans for tuition and upkeep, is part of the Federal Government’s broader effort to expand access to higher education and ease the financial burden on Nigerian students.