The Federal Government has disclosed that more than ₦150 billion has been disbursed to 788,000 students across the country through the Nigeria Education Loan Fund (NELFUND) as part of its education financing and youth empowerment drive.
The Minister of Information and National Orientation, Alhaji Mohammed Idris, made the disclosure on Monday during an end-of-year media briefing in Abuja, where he reviewed key achievements of President Bola Ahmed Tinubu’s administration in 2025.
Idris said the interest-free loan scheme has significantly reduced financial barriers for students in public tertiary institutions, describing the intervention as a critical investment in human capital development.
According to him, the NELFUND initiative is designed to ensure that no eligible Nigerian student is denied access to higher education due to financial constraints.
He noted that beyond education loans, the Federal Government expanded its youth-focused programmes during the year, including the launch of the Investment in Digital and Creative Enterprises (iDICE) initiative.
The iDICE programme, he said, is backed by a multi-million-dollar venture fund aimed at supporting young Nigerians in the creative and digital economy.
Idris also highlighted the introduction of the Student Venture Capital Grant (S-VCG), which provides equity-free funding of up to ₦50 million to undergraduate innovators in Science, Technology, Engineering, Mathematics and Medicine (STEMM) disciplines.
He added that the Three Million Technical Talent (3MTT) programme recorded notable progress in 2025 as the government intensified efforts to build a globally competitive digital workforce.
NELFUND was established following the signing of the Nigeria Student Loan Act by President Bola Ahmed Tinubu in April 2024. The scheme began accepting applications in May 2024 and offers interest-free loans to students in public tertiary institutions to cover tuition and living expenses, with repayment commencing after graduation and employment.
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