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NELFUND Urges National Assembly to Support Its 25% Allocation from the New Development Levy Starting January 2026 |
NELFUND urges the National Assembly to approve 25% allocation from the new development levy in 2026 to expand student education loans in Nigeria.
Access to quality education remains one of Nigeria’s biggest challenges, especially for students from low-income families. To bridge this gap, the Nigerian Education Loan Fund (NELFUND) has called on the National Assembly to approve a 25% allocation from the new development levy starting January 2026. This move is aimed at expanding student education loans and ensuring more young Nigerians can pursue higher education without financial hardship.
Read the full details on NELFUND’s allocation proposal here.
Why NELFUND’s Request Matters
The cost of higher education in Nigeria has been on the rise, with tuition fees, textbooks, and living expenses creating barriers for many students. By securing a 25% allocation from the development levy, NELFUND plans to:
- Increase access to student loans for undergraduates and postgraduates.
- Reduce the financial burden on families struggling to pay school fees.
- Promote inclusive education by supporting disadvantaged students.
- Strengthen Nigeria’s human capital development and workforce readiness.
This request reflects the government’s broader goal of achieving equitable access to education, which aligns with the United Nations Sustainable Development Goal 4 (SDG4): Quality Education for All.
Understanding the New Development Levy
The development levy is a new initiative set to begin in January 2026. It is designed to provide a sustainable stream of funding for projects that drive national growth, including education, infrastructure, and social welfare.
By seeking 25% of this levy, NELFUND is ensuring that a significant portion of national resources is dedicated to empowering the youth through education financing. Without adequate funding, many students risk dropping out, which would negatively impact Nigeria’s workforce and economic growth.
How the 25% Allocation Could Impact Students
If approved, the allocation will create a direct impact on millions of Nigerian students. Some potential benefits include:
- Increased Loan Accessibility – More students from public and private institutions will be eligible.
- Affordable Repayment Plans – Loans are designed with flexible repayment schedules linked to employment.
- Wider Coverage – Funds could support not only tuition fees but also accommodation, learning materials, and living expenses.
- Boost for Technical and Vocational Training – The loan program could also support students in polytechnics and vocational institutions, not just universities.
NELFUND’s Role in Nigeria’s Education System
The Nigerian Education Loan Fund was created to provide financial assistance to students who cannot afford tertiary education costs. Since its establishment, NELFUND has been working to build a sustainable model for education financing in Nigeria.
The fund operates through a digital platform where students can apply for loans online, making the process transparent and accessible. You can visit the NELFUND official portal for updates on applications, eligibility criteria, and loan disbursement.
What Stakeholders Are Saying
Education experts and stakeholders have expressed support for NELFUND’s proposal, highlighting the importance of investing in human capital. According to the World Bank, nations that prioritize education funding often see long-term economic growth and improved living standards.
The National Assembly’s approval of this request could signal a turning point in Nigeria’s commitment to education reform.
How Students Can Prepare for NELFUND Loans
As Nigeria anticipates the rollout of the development levy in 2026, students who wish to benefit from NELFUND loans should:
- Stay informed by following updates on the NELFUND website.
- Gather required documents such as admission letters, proof of identity, and financial records.
- Understand repayment terms to plan for the future.
- Explore complementary resources like free online courses from platforms such as Coursera and edX.
Call-to-Action for Lawmakers and Students
For this initiative to succeed, the support of the National Assembly is crucial. Approving the 25% allocation will ensure that Nigerian students have the financial resources needed to succeed academically and professionally.
Students, parents, and educators are encouraged to voice their support and follow developments via the official NELFUND portal.
The call by NELFUND for a 25% allocation from the new development levy starting January 2026 is more than just a financial request—it is an investment in Nigeria’s future. By expanding access to student education loans, the nation can empower millions of young people, reduce inequality, and strengthen its economy.
Now is the time for the National Assembly to act and prioritize education as the cornerstone of national development.
Learn more about NELFUND’s initiative and stay updated through the official details here.
