The Nigerian Education Loan Fund (NELFUND) has urged the National Assembly to support the smooth implementation of its 25% allocation from the newly introduced Development Levy under the National Taxation Act (NTA 2025).
Managing Director of NELFUND, Akintunde Sawyerr, described the allocation as a “pivotal step” toward transforming Nigeria’s education financing system but stressed that its success hinges on timely appropriation, efficient fund releases, and broad-based sensitisation.
Sawyerr outlined NELFUND’s plans, which include expanding nationwide awareness campaigns, investing in digital platforms for transparent loan applications, strengthening collaborations with tertiary institutions, and ensuring inclusivity by targeting underserved regions and vulnerable groups.
“The 25% allocation from the Development Levy gives us the capacity to reach more students, strengthen our systems, and deliver on our mandate more effectively. However, for this opportunity to translate into real impact, we need strong collaboration with the National Assembly in the appropriation process and in nationwide sensitisation,” he said.
NELFUND reaffirmed its commitment to accountability and transparency, assuring stakeholders that all funds will be directed toward expanding access to education and strengthening Nigeria’s human capital development.
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