The Federal Government on Monday said no fewer than 500,000 students across the country are currently benefitting from the National Education Loan Fund.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this at a world press conference in Abuja to mark Nigeria’s 65th Independence Anniversary.
“As we speak, more than 500,000 students of tertiary institutions, universities, polytechnics and colleges of education are already benefitting from NELFUND,” Idris said.
The minister explained that the scheme, which covers both tuition and upkeep fees, was unprecedented in the country’s history.
He said the initiative was part of President Bola Tinubu’s ongoing reforms under the Renewed Hope Agenda aimed at driving growth and stability.
“President Bola Ahmed Tinubu is a committed, courageous and visionary leader dismantling stubborn cogs in the wheel of our national progress,” Idris added.
According to him, the administration is making heavy investments in education, health, infrastructure, agriculture, energy and youth development to build the foundation for national renewal.
Tinubu had on April 3, 2024, signed the Student Loans (Access to Higher Education) Act into law, paving the way for the creation of the Nigerian Education Loan Fund. The scheme was formally launched on July 17, 2024.
The initiative, which is being managed by NELFUND, provides interest-free loans to eligible Nigerian students. It is designed to widen access to education and reduce the financial burden on young Nigerians.
