The Federal Government says over 500,000 Nigerian students are benefitting from the National Education Loan Fund (NELFUND).
“As we speak, more than 500,000 students of tertiary institutions, universities, polytechnics and colleges of education are already benefitting from NELFUND,” the Minister of Information and National Orientation, Mohammed Idris, announced in a world press conference in Abuja to mark Nigeria’s 65th Independence Anniversary.
Idris said the scheme, which pays both tuition and upkeep fees, was “unprecedented in our history.”
He said President Bola Tinubu’s administration was pushing reforms under the Renewed Hope Agenda to drive 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 said.
He noted that the administration was investing in education, health, infrastructure, agriculture, energy, and youth development to lay the building blocks for national renewal.
President Bola Tinubu formally launched the Nigerian Student Loan Scheme on July 17, 2024, following the signing of the Student Loans (Access to Higher Education) Act on April 3, 2024.
The scheme, managed by NELFUND, provides interest-free loans to eligible students. The initiative is designed to expand access to education and ease financial pressures on young Nigerians.
The minister stressed that economic reforms were already producing results.
“Our trade surplus continues to grow, with an increasing share of contributions from the non-oil sector,” he said.
He added: “Declining inflation, a strengthening currency, falling food prices, growing external reserves, all of these are eloquent testimony that we are on the right track.”
From January 2026, the Federal Government will begin implementing new tax laws expected to expand revenue, simplify collection and ease burdens on citizens.
Idris also highlighted major projects, including road and rail construction.
He listed the 1,068-kilometre Sokoto-Badagry Superhighway and the 750-kilometre Lagos-Calabar Coastal Highway as flagship initiatives designed to connect Nigeria’s regions.
On power, he said the government had revived the 255MW Kaduna Power Plant and was committed to closing Nigeria’s metering gap with seven million smart meters by 2027.
He added that the World Bank-supported Distributed Access through Renewable Energy Scale-up (DARES) project would deliver off-grid electricity to more than 17.5 million Nigerians.
Marking Nigeria’s 65th Independence, Idris urged citizens to unite behind the government’s reforms.
“The theme of this anniversary, All Hands on Deck, is a heartfelt call to all Nigerians and our partners to support these landmark reforms. Let us continue to believe in Nigeria, because together, we can make our country greater than ever before,” he said.
He assured Nigerians that the sacrifices of recent months would soon yield benefits.
“This administration is working for you, listening to you, and committed to ensuring that no Nigerian is left behind,” Idris said.
Idris said the government remained determined to sustain inclusive development across all regions.
“No region is taking a back seat,” he stressed, adding that state and local governments were receiving higher revenues and greater autonomy to drive grassroots growth. (CHANNELS)
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