FG Spends N150bn on Students via NELFUND

The Federal Government has spent over N150 billion on 788,000 students under the Nigeria Education Loan Fund (NELFUND) initiative, Minister of Information and National Orientation, Alhaji Mohammed Idris, announced at an end-of-year news conference in Abuja.

Idris highlighted significant achievements in education under President Bola Tinubu’s administration, saying 2025 has been a productive year for policymaking and implementation, especially for young Nigerians. “NELFUND has supported over 788,000 students with interest-free loans and stipends amounting to over N150 billion,” he said.

Other initiatives launched include the Investment in Digital and Creative Enterprises (iDICE) programme, supporting young entrepreneurs, and the Student Venture Capital Grant (S-VCG), offering up to N50 million in equity-free financing for STEMM innovators in tertiary institutions.

Idris noted these interventions aim to nurture entrepreneurship and turn students into job creators. The Three Million Technical Talent (3MTT) programme also progressed, building Africa’s largest digital workforce.

NELFUND was established to provide interest-free loans to public tertiary institution students, covering tuition and living expenses.

The scheme targets students from low-income families, with repayment expected after graduation and employment.