The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N1.5 billion in student loans to 6,129 students across three tertiary institutions for the 2025/2026 academic session.
NELFUND disclosed this in a statement published on its verified X handle on Thursday, stating that the beneficiaries are students of Bamidele Olumilua University of Education, Science and Technology (BOUESTI), Ekiti State; Sikiru Adetona College of Education, Science and Technology, Ogun State; and the Edo State College of Nursing Sciences, Benin City.
According to the fund, BOUESTI received the largest share of the disbursement, with N1,360,920,800 released in five tranches to cover 5,396 students.
The Sikiru Adetona College of Education, Science and Technology received N104,530,000 for 680 students, while the Edo State College of Nursing Sciences received N36,485,000 to support 53 students.
NELFUND said the disbursement forms part of its commitment to expanding access to higher education by providing financial support to eligible Nigerian students.
The beneficiary institutions have acknowledged receiving the funds.
Registrar of Sikiru Adetona College, Dr. Bukola Makinde, confirmed that the money had already been paid directly into the bank accounts of the beneficiaries.
She said the intervention would enable students to continue their studies without financial constraints.
Similarly, the Provost of the Edo State College of Nursing Sciences, Mabel Omobude, assured that the institution would ensure the funds are applied strictly for their intended educational purposes.
She reaffirmed the college’s commitment to transparency, accountability and compliance in administering the loan scheme.
Also confirming receipt of the funds, the Vice-Chancellor of BOUESTI, Prof. Andrew Babatunde Omojola, said the university received N1,360,920,800 across five tranches for 5,396 students.
He commended the Federal Government and the management of NELFUND for the timely disbursement, noting that the initiative would ease the financial burden on students and improve access to tertiary education.
Omojola added that the university remains committed to ensuring the successful implementation of the student loan programme in line with the objectives of the Federal Government.
