The Vice-Chancellor of Ladoke Akintola University of Technology, Prof. Razaq Kalilu, has disclosed that over 15,000 students of the institution who were approved for the Federal Government’s student loan scheme have yet to receive the funds.

Kalilu made this known yesterday during a press briefing heralding the university’s 18th convocation ceremony.

He expressed concern about the delay in disbursing funds under the Nigerian Education Loan Fund (NELFUND).

According to him, about 19,000 students of the university applied for the loan scheme, of whom more than 15,000 were approved but have not received payment.

The Vice-Chancellor noted that while the initiative is commendable and promises to improve access to higher education, the delay in disbursement could undermine its intended impact, especially for students facing financial constraints.

Kalilu also disclosed that the institution produced 137 First Class graduates out of a total of 7,641 students in its first-degree category for the 2026 academic session.

He said the First Class graduates represent about two per cent of the total number of graduands, noting that the majority fell within the Second Class categories.

According to him, 1,889 students graduated with Second Class Upper division, while 3,549 obtained Second Class Lower division. He added that 1,008 students earned Third Class degrees, while 37 graduated with Pass.

The Vice-Chancellor identified Oladepo Caleb Olugbenga of the Department of Electronic and Electrical Engineering as the overall best graduating student, with a cumulative grade point average (CGPA) of 4.89.