NELFUND: ‘Over N150bn spent on 788,000 students’

The Federal Government has spent over N150bn on 788,000 students in the Nigeria Education Loan Fund (NELFUND) initiative.

The Minister of Information and National Orientation, Alhaji Mohammed Idris, stated this at the end-of-year news conference on Monday in Abuja.

Idris said President Bola Tinubu’s administration had achieved significant results across sectors, especially in education.

According to him, 2025 has been a bumper year for targeted and catalytic policy-making and implementation, especially for young Nigerians.

“NELFUND has now supported over 788,000 Nigerian students with interest-free loans and stipends amounting to over N150bn and still counting.

“Similarly, the Federal Government’s’ Investment in Digital and Creative Enterprises (iDICE) programme officially kicked off during the year.

“It is with an anchor investment in a new multi-million-dollar venture fund that will support the creative and digital entrepreneurship aspirations of young Nigerians.

“In 2025, the Federal Government launched the Student Venture Capital Grant (S-VCG),” Idris said.

According to him, the S-VCG is offering equity-free financing of up to ₦50 million for undergraduate innovators in Science, Technology, Engineering, Mathematics, and Medicine (STEMM) disciplines, across accredited tertiary institutions.

He further explained that “with this new intervention, the country is nurturing the seeds of entrepreneurship on its campuses and turning the brightest minds into job creators, not just job seekers.”

He added that the Three Million Technical Talent (3MTT) programme made significant progress during the year, as it builds Africa’s largest digital army.