The Nigerian Education Loan Fund (NELFUND) has disbursed a total of ₦1.5 billion in student loans to 6,129 students across three tertiary institutions for the 2025/2026 academic session.

The beneficiaries are 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.

A breakdown released by NELFUND shows that BOUESTI received ₦1,360,920,800 across five tranches for 5,396 students, making it the largest beneficiary. Sikiru Adetona College received ₦104,530,000 for 680 students, while the Edo State College of Nursing Sciences received ₦36,485,000 for 53 students.

The three institutions have confirmed receiving the funds.

Registrar of Sikiru Adetona College, Dr Bukola Makinde, said the money had already been paid directly into the beneficiaries’ bank accounts, adding that the support would help students continue their education without financial disruption.

Provost of the Edo State College of Nursing Sciences, Mabel Omobude, pledged that the funds would be used strictly for their intended educational purpose, reaffirming the institution’s commitment to transparency and accountability.

BOUESTI Vice-Chancellor, Prof. Andrew Babatunde Omojola, confirmed receipt of the full ₦1.36 billion and commended the Federal Government and NELFUND’s management for the efficient disbursement process.

He said the funding would benefit 5,396 students and praised the scheme for advancing its objective of expanding access to higher education through financial support.

The update was announced by NELFUND on its verified X account and confirmed by beneficiary institutions in acknowledgement letters seen by Channels Television.