The Federal Government has announced that over 500,000 Nigerian students are currently benefiting from the National Education Loan Fund (NELFUND), a flagship initiative under President Bola Tinubu’s administration. The scheme provides interest-free loans covering both tuition and living expenses for eligible students in universities, polytechnics, and colleges of education across the country.
Minister of Information and National Orientation, Mohammed Idris, disclosed the achievement during a press conference in Abuja on Monday, September 29, 2025, marking Nigeria’s 65th Independence Anniversary. He described the scheme as “unprecedented in our history,” highlighting its critical role in removing financial barriers to higher education. Idris emphasized that the initiative aligns with President Tinubu’s Renewed Hope Agenda, which prioritizes education, youth empowerment, and national development.
The NELFUND was established following the signing of the Student Loans (Access to Higher Education) Act on April 3, 2024. Its objective is to democratize access to tertiary education, ensuring that students’ academic aspirations are not limited by financial constraints. With over 500,000 beneficiaries, the fund has become a key pillar of the administration’s commitment to educational reform and skills development.
The Federal Government has also emphasized plans to expand the program, improve the efficiency of loan disbursement, and support even more students in the coming years. The initiative is expected to contribute significantly to building a highly educated and skilled workforce capable of driving Nigeria’s economic growth and development.
