The University of Benin (UNIBEN) has acknowledged receiving approximately N145.98 million from the Nigerian Education Loan Fund (NELFUND) for 1,454 students under the Federal Government’s student loan scheme.
The development represents another major disbursement to students of the institution for the 2025/2026 academic session and highlights the growing role of the student loan programme in helping Nigerian students meet the cost of tertiary education.
According to a report by The Guardian, the university disclosed the details in a letter dated July 7, 2026, signed by its Registrar, Bimpe Omoyiwola, and addressed to NELFUND Managing Director Akintunde Sawyerr.
The money was released to the university in three additional tranches.
The first payment amounted to N92.75 million and was received on April 15, 2026. That payment covered 910 students.
The second tranche, worth approximately N35.18 million, was received on May 7 and benefited another 358 students.
A third payment of approximately N18.04 million was received on June 9 for 186 beneficiaries.
When the three payments were combined, UNIBEN received a total of N145,975,250, benefiting 1,454 students.
The university expressed appreciation to NELFUND and the beneficiaries for the support provided through the student loan initiative.
University management also assured NELFUND of its commitment to transparency, accountability and compliance with the guidelines governing the programme.
The NELFUND initiative is designed to make higher education more accessible to Nigerian students who may otherwise struggle to pay tuition and other education-related expenses.
Under the programme, approved institutional charges are paid directly to participating institutions, while eligible students can receive upkeep support through their registered bank accounts.
UNIBEN has maintained a dedicated NELFUND desk through its Student Affairs Division to provide information and assistance to students seeking to access the programme. The university’s official information explains that successful applications can result in institutional payments for approved charges, while upkeep support is paid to the student’s registered account.
The latest disbursement is significant because university education has become increasingly expensive for many Nigerian families.
Students often face several expenses beyond tuition, including accommodation, transportation, textbooks, feeding, research work and other academic requirements.
By providing assistance with institutional charges and upkeep, the student loan programme is intended to reduce some of these financial pressures.
NELFUND has continued to expand its disbursement activities across Nigerian universities, polytechnics and other tertiary institutions.
The programme has also attracted public attention because of the large number of students seeking financial assistance and the challenges involved in processing applications and payments across institutions.
At UNIBEN, the latest payment demonstrates that thousands of students are being reached through the programme.
The university has also stressed the importance of complying with the operational guidelines attached to the scheme. This is particularly important because disputes over student refunds and institutional payments have emerged at some other tertiary institutions.
NELFUND previously acknowledged that some schools had received payments from both students and the Fund where students had already paid their fees before their loans were approved. The agency subsequently began investigating complaints involving institutions accused of failing to refund affected students.
For UNIBEN beneficiaries, the latest disbursement means that approved institutional charges for the affected students have received additional financial support through the Federal Government-backed scheme.
The development is also expected to encourage more eligible students to explore the student loan opportunity, particularly those who might otherwise struggle to remain in school because of financial difficulties.
However, students have also been advised to understand the terms and conditions of the loan before applying.
NELFUND remains responsible for administering the Federal Government’s student loan initiative, while participating institutions play an important role in verifying students, receiving institutional payments and providing necessary information to the Fund.
The continued cooperation between universities and NELFUND will therefore remain important as more students seek access to the scheme.
For the University of Benin, the N145.98 million disbursement marks another significant stage in the implementation of student financial support for the 2025/2026 academic session.
With more students gaining access to institutional funding, the student loan programme continues to play an increasingly important role in Nigeria’s efforts to reduce financial barriers to tertiary education.
