The Nigerian Education Loan Fund (NELFUND) distributed a total of N1.5 billion to 6,129 students across three institutions in the country for the 2025/2026 academic session.
According to an update on its verified X handle on Thursday, it was disclosed that the beneficiary schools 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, Edo State.
A breakdown of the documents noted that N1,360,920,800 was disbursed to Bamidele Olumilua University of Education, Science and Technology, Ekiti State, covering 5,396 students across five tranches, N104,530,000 to Sikiru Adetona College of Education, Science and Technology, Omu-Ajose, Ogun State, covering 680 students, and N36,485,000 to the Edo State College of Nursing Sciences, Benin City, Edo State, covering 53 students.
The largest disbursement went to BOUESTI, which received N1,360,920,800 across five tranches covering 5,396 students, followed by Sikiru Adetona College, which received N104,530,000 for 680 students, and the Edo State College of Nursing Sciences, which received N36,485,000 covering 53 students.
The Registrar of Sikiru Adetona College, Dr Bukola Makinde, confirmed the funds had already reached individual students.
“The said money had since been disbursed into the bank accounts of the students’ beneficiaries,” she said, describing the support as enabling students “to enjoy financially hitch-free academic progress.”
The Provost of the Edo State College of Nursing Sciences, Mrs Mabel Omobude, pledged full accountability in the use of the disbursed funds.
“The disbursement will be judiciously applied strictly for its intended educational purposes in tandem with global best practices,” she said, adding that the college reaffirms its “continued commitment to compliance, transparency, and accountability in the administration of this facility.”
BOUESTI Vice-Chancellor Prof. Andrew Babatunde Omojola confirmed receipt of the full N1,360,920,800 disbursed across five tranches and commended NELFUND’s leadership for delivering the funds efficiently.
“We hereby confirm the receipt of a total sum of One Billion, Three Hundred and Sixty Million, Nine Hundred and Twenty Thousand, Eight Hundred Naira only, being the total payment of the five tranches of student loan approved to 5,396 students of BOUESTI, disbursed for the 2025/2026 academic session,” he said.
“We want to appreciate the Federal Government and sincerely applaud the Managing Director of NELFUND and his team for their efforts and efficiency in ensuring the objectives of the scheme are achieved nationwide,” he added.