NELFUND Disburses ₦1.47bn Loan To LAUTECH Students

The management of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State, has expressed appreciation to the Nigeria Education Loan Fund (NELFUND) following the disbursement of ₦1.47 billion to over 6,000 of its students.

In a letter signed by the Registrar and Secretary to Council, Mrs. Olayinka O. Balogun, and addressed to the Managing Director/Chief Executive Officer of NELFUND, the university acknowledged receipt of the funds on July 24, 2025.

According to the letter, a total of 6,076 students benefited from the intervention, with an exact disbursement figure of ₦1,475,305,300.00.

“We commend your efforts aimed at providing financial assistance to indigent students, in alignment with the Federal Government’s goal of increasing access to higher education,” Mrs. Balogun wrote.

The university noted that the gesture had brought “significant relief” to its students, describing it as a demonstration of NELFUND’s commitment to supporting tertiary education in Nigeria.

“We appreciate the efficient processing and disbursement of the funds, which has facilitated the payment of fees for the beneficiaries,” the registrar added.

While conveying the appreciation of the Vice Chancellor, Professor R.O. Kalilu, LAUTECH assured that the support would go a long way in enhancing academic skills and reducing the financial burden on students.

LEADERSHIP reports that NELFUND, which was recently established by the Federal Government, is tasked with providing interest-free loans and financial assistance to students in tertiary institutions across the country as part of efforts to promote inclusive access to higher education.