UNILAG Receives ₦1.33bn NELFUND Loan to Cover Tuition for 2025/2026 Session

The Nigerian Education Loan Fund has confirmed the disbursement of ₦1.33 billion to the University of Lagos for the 2025/2026 academic session as part of the ongoing implementation of the Federal Government’s student loan programme.

In a statement released in Abuja, the Fund disclosed that a total of ₦1,326,550,000 was successfully transferred to the University of Lagos on January 19, 2026, in line with the approved disbursement schedule for the academic year.

According to the Fund, the money is designated to cover tuition and related institutional charges for 6,308 eligible students of the university who satisfied all requirements under the student loan scheme. It explained that the list of beneficiaries was compiled using verified data submitted by the institution during the application and validation stages.

NELFUND noted that once payments are made directly to institutions, affected students are expected to complete their registration and participate fully in academic activities without delay.

The agency added that it maintains close coordination with tertiary institutions to reconcile beneficiary records, ensure accurate application of funds to students’ accounts, and provide clear communication that prevents misinformation and unnecessary anxiety among students.

The Managing Director and Chief Executive Officer of the Fund, Akintunde Sawyerr, reaffirmed the organisation’s commitment to transparency, accountability, and student welfare in the disbursement process.

He stated that approved student loan funds are being released promptly and applied appropriately in collaboration with partner institutions, adding that efforts are ongoing to resolve any administrative gaps to ensure that no qualified student is disadvantaged.

NELFUND urged students and stakeholders to rely only on official communications from the Fund and their respective institutions for accurate information. Students seeking clarification were advised to contact their institution’s bursary or student affairs office.

The Fund also confirmed that it is continuing engagement with the University of Lagos to conclude reconciliation processes where necessary.

Established to administer the Nigeria Student Loan Scheme signed into law in April 2024, NELFUND oversees the provision of interest-free loans to students in public tertiary institutions to cover tuition and other approved expenses.

Since applications opened in May 2024, the initiative has aimed to remove financial barriers to higher education, particularly for students from low-income backgrounds. Beneficiaries are expected to begin repayment only after completing their studies and securing employment.

As of January 23, 2026, the total amount disbursed under the student loan scheme nationwide stood at ₦174,561,719,810, reflecting the scale of the government’s investment in expanding access to tertiary education through sustainable education financing.