Over 500,000 Students Benefitting from Loan Scheme, Says FG at 65th Independence Anniversary

Abuja, Nigeria – More than 500,000 students in universities, polytechnics and colleges of education are currently benefitting from the Nigerian Education Loan Fund (NELFUND), the Minister of Information and National Orientation, Mohammed Idris, announced at a world press conference in Abuja to mark Nigeria’s 65th Independence Anniversary.

Describing the initiative as “unprecedented in our history,” Idris said the loan scheme covers both tuition and upkeep fees, expanding access to higher education and easing financial pressures on young Nigerians.

The programme was launched by President Bola Ahmed Tinubu in July 2024, following the enactment of the Student Loans (Access to Higher Education) Act, and provides interest-free loans to eligible applicants.

“President Tinubu is a committed, courageous and visionary leader dismantling stubborn cogs in the wheel of our national progress,” Idris said, stressing that the administration was investing in education, health, infrastructure, agriculture, energy, and youth development as part of the Renewed Hope Agenda.

Economy and Infrastructure

Idris said ongoing reforms were beginning to yield results, pointing to growing trade surplus, contributions from the non-oil sector, declining inflation, a stronger naira, and rising external reserves.

He announced that from January 2026, the Federal Government would implement new tax laws aimed at expanding revenue while easing collection and reducing burdens on citizens.

On infrastructure, he listed major projects such as the 1,068-kilometre Sokoto-Badagry Superhighway and the 750-kilometre Lagos-Calabar Coastal Highway as flagship developments to connect Nigeria’s regions.

In the energy sector, Idris highlighted the revival of the 255MW Kaduna Power Plant, plans to install seven million smart meters by 2027, and the DARES project, which will deliver off-grid electricity to 17.5 million Nigerians with World Bank support.

Call for Unity

Commemorating Nigeria’s 65th independence, Idris urged citizens to rally behind the government’s reforms under the anniversary theme “All Hands on Deck.”

“This administration is working for you, listening to you, and committed to ensuring that no Nigerian is left behind,” he said, assuring that the sacrifices made in recent months would soon translate into tangible benefits.

He added that no part of the country was being left behind, as state and local governments were now receiving higher revenues and greater autonomy to drive grassroots growth.