NELFUND Seeks National Assembly's Support for 25% Allocation from Development Levy

The Nigerian Education Loan Fund (NELFUND) is seeking the National Assembly's support to secure a 25% allocation from the newly approved development levy, effective from January 1, 2026. This levy, introduced under the National Taxation Act 2025, aims to boost NELFUND's mandate of providing affordable education loans to Nigerian students.

NELFUND's Managing Executive, Akintunde Sawyerr, emphasizes the importance of collaboration between the legislature, Ministry of Finance, and other government offices to ensure the efficient release of funds. The allocation from the development levy is crucial for expanding access to education financing and strengthening the loan system to benefit students and educational institutions across Nigeria.