The University of Ibadan (UI) has received N1.655 billion from the Nigerian Education Loan Fund (NELFUND) to cover institutional levies for 8,110 students in the 2025/2026 academic session.
The university’s Vice-Chancellor, Prof. Kayode Adebowale, confirmed the payment in a letter dated July 3, 2026.
The letter was addressed to the Managing Director of NELFUND, Akintunde Sawyerr. In it, Adebowale thanked the fund and praised the Federal Government’s student loan initiative.
He said the support has made a real difference on campus, especially for students who would otherwise struggle to pay for their education.
According to him, the number of NELFUND beneficiaries at UI rose from 5,004 in 2023/2024 to 5,838 in 2024/2025. It has now climbed to 8,110 in the current session.
The vice-chancellor linked the growth to steady technical support from NELFUND, yearly sensitisation workshops and improvements in the university’s internal processes.
He also said the extension of the application deadline helped push applications up by more than 1,000.
Adebowale wrote on behalf of the university’s management, Senate and students. He said UI remains committed to the proper running and sustainability of the loan scheme.
He explained that the school has put checks in place to make sure every naira goes strictly to the academic levies of approved beneficiaries, backed by thorough internal auditing.
The university has also strengthened the units that guide students on using the loan portal and following application guidelines.
Students with complaints get help internally, and unresolved cases are passed on to NELFUND’s support desk. The school also verifies student data promptly and accurately.
Adebowale added that UI has automated refunds for students who paid their levies before their loan applications were approved. He said the move is meant to make the process faster and more transparent.
He thanked the Federal Government and NELFUND’s leadership for working to widen access to higher education, and promised continued collaboration with the fund.
Digital Operations Manager at The Students Forum Nigeria.
