The Nigerian Education Loan Fund (NELFUND) has confirmed the release of N1.33 billion to the University of Lagos (UNILAG) for the 2025/2026 academic session.
This was disclosed in a statement by the Director of Strategic Communications, NELFUND, Mrs. Oseyemi Oluwatuyi, in Abuja on Friday, the 23rd of January, 2026, speaking on behalf of the Managing Director/CEO of NELFUND, Mr. Akintunde Sawyerr.
Sawyerr noted that the sum of N1.33 billion was disbursed to UNILAG on the 19th of January, 2026, in accordance with the approved schedule for the academic session.
He explained that the funds were intended to cover 6,308 eligible UNILAG students who met all criteria under the student loan programme.
According to him, the lists of beneficiaries were compiled from verified institutional data submitted during the application and validation process.
Sawyerr further stated that following the disbursement to institutions, students were expected to register and participate in academic activities without delay.
He added that NELFUND would continue to liaise with relevant officials of tertiary institutions to reconcile beneficiary lists, ensure timely crediting of funds to students’ accounts, and maintain clear communication to prevent misinformation.
He reaffirmed the Fund’s commitment to transparency and the welfare of students.
“The Fund is fully committed to prompt disbursement and proper application of approved student loan funds.
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“It is also working closely with partner institutions to address administrative gaps,” he said.
The MD assured that efforts were ongoing to ensure no eligible student is left disadvantaged in the process.
He urged students and other stakeholders to rely on official communications from the Fund and their respective institutions.
He also assured that issues related to the disbursement were being addressed.
Sawyerr advised students to reach out to their institutions’ bursary or student affairs offices for clarification, while NELFUND continues to engage UNILAG to complete the reconciliation process.