FG Spends Over ₦150bn on 788,000 Students Through NELFUND — Information Minister

FG Spends Over ₦150bn on 788,000 Students Through NELFUND — Information Minister

The Federal Government has disbursed over ₦150 billion to support about 788,000 students under the Nigeria Education Loan Fund (NELFUND) initiative, the Minister of Information and National Orientation, Alhaji Mohammed Idris, has disclosed.

Idris made this known on Monday in Abuja during the end-of-year media briefing, where he highlighted key achievements of President Bola Tinubu’s administration, particularly in the education sector.

According to the minister, 2025 marked a major milestone in targeted policy formulation and implementation, with a strong focus on empowering young Nigerians.

“NELFUND has now supported over 788,000 Nigerian students with interest-free education loans and stipends amounting to over ₦150 billion, and the figure is still increasing,” Idris said.

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He also announced that the Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme officially took off in 2025, backed by a multi-million-dollar venture fund aimed at boosting creative and digital entrepreneurship among Nigerian youths.

In addition, Idris revealed that the government launched the Student Venture Capital Grant (S-VCG) during the year.

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

“With this intervention, Nigeria is nurturing entrepreneurship on its campuses and turning some of its brightest minds into job creators rather than job seekers,” he said.

The minister further noted that the Three Million Technical Talent (3MTT) programme recorded significant progress in 2025, as the government continues efforts to build Africa’s largest digital talent workforce.

FG Spends Over ₦150bn on 788,000 Students Through NELFUND — Information Minister