NELFUND Seeks National Assembly Support for 25% Allocation in Education Loan Fund

The Nigerian Education Loan Fund (NELFUND) is seeking the National Assembly's support to ensure a 25% allocation from the new Development Levy, effective from January 1, 2026. The Managing Director, Akintunde Sawyerr, emphasized the importance of timely appropriation and efficient release of funds for expanding access to affordable education loans for Nigerian students.

NELFUND plans to enhance awareness through a nationwide sensitization campaign and digital platforms for transparent loan processes. The National Taxation Act 2025 introduced a 4% Development Levy on taxable profits, excluding small companies and hydrocarbon taxes.

This collaboration aims to unlock transformative funding potential and improve education loan accessibility in Nigeria.