Oyo varsity confirms NELFUND loan disbursements for 1,101 students

By : Azeez Kareem

Date: 11 December 2025 12:04pm WAT

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Oyo varsity confirms NELFUND loan disbursements for 1,101 students

Oyo varsity confirms NELFUND loan disbursements for 1,101 students

Emmanuel Alayande University of Education, Oyo, has confirmed receiving three tranches of the Nigerian Education Loan Fund (NELFUND) for the 2024/2025 academic session, totalling ₦341.8 million for 1,101 students.

The disclosure was made in an official letter dated 20 November 2025, signed by the Registrar, OluBunmi Silju Asunmo, and addressed to the Managing Director of NELFUND in Abuja.

The university said the funds were disbursed in three phases between September and November.

According to the breakdown, the first tranche of ₦163,327,500 was received on 1 September for 520 students.

A second tranche of ₦109,759,500 followed on 23 September for 356 students, while the final tranche of ₦68,772,500 for 225 students was released on 6 November.

The institution said the funds would cover tuition and statutory charges for eligible undergraduates, particularly those training to become teachers.

The management praised NELFUND’s role in easing financial pressure on students at a time of rising living and educational costs. It added that the intervention had helped prevent disruptions to learning and teaching practice programmes.

The university noted that the loan disbursements had “cushioned the effect of the current economic situation to a large extent,” assuring NELFUND of continued cooperation to promote accessible and inclusive education.

NELFUND, launched by the federal government in 2024, has been expanding its reach across universities, polytechnics and colleges of education.

Since the rollout of the digital application portal in mid-2024, tens of thousands of students have been onboarded, although the scheme has also faced operational challenges, including verification delays and calls for increased sensitisation in rural areas.

In November, NELFUND announced that over 130 institutions had been fully cleared to access the loan platform after submitting required data on accredited programmes, fee structures and student enrolment.

Several federal and state-owned universities later confirmed receiving disbursement approvals for various categories of students.

The fund has positioned itself as a long-term mechanism for supporting access to higher education, offering zero-interest loans repayable only after beneficiaries secure employment.

The government has said the programme is central to its strategy to reduce dropout rates and expand the pool of skilled graduates entering the workforce.

Stakeholders in the education sector have urged NELFUND to speed up its institution-by-institution onboarding process to prevent disparities in access. Some student unions have also demanded an expansion of the loan to cover accommodation and learning materials.

The institution said onward distribution to beneficiaries would continue in line with NELFUND guidelines and internal verification procedures.

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