The National Education Loan Fund (NELFUND) is reportedly used by over 500 000 Nigerian students.
More than 500, 000 students from tertiary institutions, universities, polytechnics, and colleges of education already benefit from NELFUND, according to the minister of information and national orientation, Mohammed Idris, in a press conference held in Abuja to mark Nigeria’s 65th anniversary.
Idris called the program “unprecedented in our history” and claimed it covers both tuition and upkeep costs.
He claimed that the administration of President Bola Tinubu was promoting growth and stability through reforms under the Renewed Hope Agenda.
Idris praised President Bola Ahmed Tinubu as a steadfast, courageous, and visionary leader who is dismantling stubborn cogs in our nation’s progress.
He noted that the administration was putting the foundation stone of a new nation by investing in education, health, infrastructure, agriculture, energy, and youth development.
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Following the passage of the Student Loans (Access to Higher Education) Act on April 3, 2024, President Bola Tinubu officially launched the Nigerian Student Loan Scheme on July 17, 2024.
Interest-free loans are offered to eligible students through the scheme, which is run by NELFUND. The goal of the initiative is to make young Nigerians more affordable and have access to education.
Reforming the economy
The minister emphasized the impact of economic reforms.
He stated that “our trade surplus is growing as the non-oil sector contributes more and more,” adding.
He continued, “The decline in inflation, a strengthening currency, falling food prices, and growing external reserves are all eloquent indications that we are on the right track.”
The Federal Government will start enacting new tax laws starting in 2026 that will increase revenue, make collection easier, and reduce taxes on citizens.
Energy and Infrastructure Developments
Idris also cited significant projects, including those involving railroad and road construction.
He cited the 1, 068-kilometer Lagos-Calabar Coastal Highway, which are the country’s flagship initiatives, as well as the 750-kilometer Lagos-Badagry Superhighway, as well as the 1, 068-kilometer Sokoto-Badagry Superhighway.
He claimed that the government had revived the 255MW Kaduna Power Plant and was working toward a seven million smart meters by 2027 goal in Nigeria.
More than 17.5 million Nigerians would receive off-grid electricity thanks to the World Bank-supported Distributed Access through Renewable Energy Scale-up project, he added.
Call for Unity
Idris urged people to unite behind the government’s reforms as they marked the country’s 65th anniversary.
All Hands on Deck, the anniversary’s theme, appeals to all Nigerians and our partners to back these important reforms. Let us keep believing in Nigeria because, together, we can make it better than ever,” he said.
He promised Nigerians that the recent sacrifices would soon bring about positive outcomes.
Idris stated, “This administration is working for you, listening to you, and committed to making sure no Nigerian is forgotten.”
Idris praised the government’s commitment to promote inclusive development in all sectors.
Source: Channels TV
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