In a statement issued in Ibadan on Friday, the university’s Registrar, Olayinka Balogun, described the institution’s relationship with NELFUND as “cordial and productive,” noting that the intervention has significantly reduced financial burdens for students while improving access to higher education.
Balogun explained that during a recent pre-convocation briefing, the university disclosed that about 19,000 students applied for the loan scheme, with over 15,000 applications already verified. Of these, 5,237 students have been approved for funding in the 2025/2026 academic session and are currently awaiting disbursement, while others remain at various stages of processing.
He, however, addressed what the institution described as a misinterpretation of its earlier remarks, which allegedly suggested delays or reluctance on the part of NELFUND to release funds. The registrar emphasized that at no point did the university question the agency’s commitment, stressing that the update was intended solely to inform stakeholders of progress and reassure beneficiaries.
Reaffirming LAUTECH’s commitment to the partnership, Balogun said the institution would continue to work closely with NELFUND and other stakeholders to ensure students receive the financial support required to complete their studies.
Earlier, NELFUND provided additional context to the figures cited by the university, clarifying that the 5,237 approved students represent the first verified batch submitted by LAUTECH for the current disbursement cycle. According to the agency, the list was only received within the past week.
In a statement signed by its Director of Strategic Communications, Oseyemi Oluwatuyi, the fund disclosed that the batch—valued at approximately ₦1.57 billion—has already been processed and approved, and is currently undergoing final administrative procedures, including audit and financial checks, before payment is completed.
NELFUND further explained that loan approval does not equate to immediate disbursement, as each application must pass through structured verification and financial workflows.
The agency also cautioned institutions against premature or unclear public statements, warning that such communications could create unnecessary anxiety among students and potentially erode confidence in the loan scheme.
The latest clarifications appear aimed at restoring confidence in the programme, as thousands of students across the country continue to rely on the initiative for financial support.