NELFUND: How Tinubu’s Student Loan Scheme Is Revolutionising Tertiary Education
Nigeria’s educational journey spans from free primary schooling under Awolowo to universal basic education in 1999. Today, NELFUND represents the next leap by providing direct student loans and monthly allowances for tertiary students. Since its launch in 2024, NELFUND has approved over 1.3 million applications and disbursed more than ₦242 billion. It covers tuition fees and offers ₦20,000 monthly upkeep, with repayment deferred until after graduation and employment. This scheme marks the first time Nigerians receive personal financial aid at the tertiary level. It targets students in public universities, polytechnics, and colleges of education across all states, ensuring equity and removing barriers to higher learning. Beyond individual relief, NELFUND boosts local economies by injecting funds into host communities and expands Nigeria’s skilled workforce. As part of a broader educational transformation, it completes the arc from basic literacy to accessible university education.
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