The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of ₦1.5 billion in student loans to 6,129 students across three Nigerian institutions for the 2025/2026 academic session.
NELFUND said the latest funding support is aimed at helping students access education without financial barriers while promoting equal opportunities across tertiary institutions in the country.
The beneficiary institutions include Bamidele Olumilua University of Education, Science and Technology (BOUESTI) in Ekiti State, Sikiru Adetona College of Education, Science and Technology in Ogun State, and the Edo State College of Nursing Sciences in Benin City.
According to the Fund, BOUESTI received the largest share of the disbursement, with ₦1.36 billion released for 5,396 students across five tranches.
Sikiru Adetona College of Education, Science and Technology received ₦104.53 million to support 680 students, while the Edo State College of Nursing Sciences received ₦36.48 million covering 53 students.
NELFUND confirmed the payments through an update shared on its verified X handle, noting that the funds were released as part of efforts to strengthen access to higher education through the federal government’s student loan programme.
Institutions Confirm Receipt Of Funds
The three benefiting institutions have confirmed receiving the funds and acknowledged the impact of the intervention on students.
The Registrar of Sikiru Adetona College of Education, Dr Bukola Makinde, confirmed that the money had already been transferred directly into the bank accounts of student beneficiaries.
She said the support would allow students to continue their academic programmes without financial difficulties.
Meanwhile, the Provost of the Edo State College of Nursing Sciences, Mabel Omobude, assured that the funds would be used strictly for educational purposes.
She pledged the institution’s commitment to transparency, accountability, and proper administration of the facility.
BOUESTI Receives Over ₦1.36bn For Students
The Vice-Chancellor of BOUESTI, Professor Andrew Babatunde Omojola, also confirmed receipt of the full ₦1,360,920,800 disbursed across five tranches.
He praised NELFUND’s management for ensuring the smooth delivery of the student loan scheme and expressed appreciation to the Federal Government for supporting Nigerian students.
Professor Omojola said the funds would help 5,396 BOUESTI students continue their studies during the 2025/2026 academic session.
The latest disbursement highlights the continued expansion of Nigeria’s student loan initiative, which aims to provide financial assistance to eligible students across universities, colleges of education, and other higher institutions nationwide.
