NELFUND disburses N145.9m to 1,454 UNIBEN students

The Nigerian Education Loan Fund (NELFUND) has disbursed a total of N145,975,250 to 1,454 students of the University of Benin (UNIBEN) for the 2025/2026 academic session.

The development was disclosed in a letter from the University of Benin, dated July 7, 2026, and addressed to the Managing Director of NELFUND. The letter, signed by the university’s Registrar, Bimpe Omoyiwola, acknowledged the receipt of three additional tranches of the student loan disbursement.

According to the university, the funds were released in three batches to eligible student beneficiaries.

The first tranche, amounting to N92,751,500, was received for 910 students on April 15, 2026. The second tranche of N35,182,750 was received for 358 students on May 7, while the third tranche, valued at N18,041,000, was received on June 9 for 186 students.

In total, the three tranches covered 1,454 students and amounted to N145,975,250.

The university expressed appreciation to NELFUND for what it described as an initiative aimed at making tertiary education more accessible to Nigerian students.

“Please accept the sincere appreciation of the University Management and the student beneficiaries for the sustenance of this invaluable initiative which provides affordable and accessible tertiary education to Nigerian students,” the Registrar stated.

The latest disbursement is part of the Federal Government’s efforts through NELFUND to provide financial support to students who may face difficulties meeting the cost of tertiary education.

For many students, the availability of education loans has become an important intervention, particularly as families continue to grapple with rising expenses associated with tuition, accommodation, transportation, textbooks and other academic needs.

UNIBEN also assured NELFUND of its commitment to ensuring that the funds are administered in line with the guidelines of the scheme.

“While I assure you of the University’s firm commitment to ensure absolute transparency, accountability, and strict compliance with the operational guidelines governing the Scheme,” Omoyiwola said.

The university’s acknowledgment also indicates that the latest payments were specifically made to beneficiaries for the 2025/2026 academic session.

NELFUND has continued to position the student loan scheme as a means of removing financial barriers that prevent qualified Nigerian students from accessing higher education.

With the disbursement to the 1,454 UNIBEN beneficiaries, students who might otherwise struggle to remain in school due to financial constraints are expected to receive some relief in meeting their educational expenses.

The university management further thanked the Federal Government and NELFUND for sustaining the initiative, stressing the importance of affordable access to tertiary education.

The development also highlights the growing role of the student loan scheme in supporting students across Nigerian universities, as more institutions continue to receive funds for eligible beneficiaries.

For the 1,454 UNIBEN students covered by the latest three tranches, the N145.9 million intervention represents a significant financial support as they continue their studies in the 2025/2026 academic session.