The Federal Government has injected over N150 billion into Nigeria’s educational sector, benefiting more than 788,000 students under the Nigeria Education Loan Fund (NELFUND) initiative.
This disclosure was made on Monday by the Minister of Information and National Orientation, Alhaji Mohammed Idris, during an end-of-year press conference in Abuja.
According to Idris, the NELFUND program has provided interest-free loans and stipends to thousands of Nigerian students, reflecting President Bola Tinubu’s administration’s commitment to fostering youth development and educational advancement.
“This year has seen remarkable progress in targeted and catalytic policies aimed at empowering young Nigerians,” Idris said.
He noted that NELFUND’s support is ongoing and continues to grow.
The minister also highlighted complementary government initiatives, including the Investment in Digital and Creative Enterprises (iDICE) programme.
Launched this year, iDICE is anchored by a multi-million-dollar venture fund designed to back young Nigerians pursuing careers in digital and creative entrepreneurship.
In addition, the Student Venture Capital Grant (S-VCG) was introduced to provide equity-free financing of up to N50 million for undergraduate innovators in Science, Technology, Engineering, Mathematics, and Medicine (STEMM) across accredited tertiary institutions.
“This initiative aims to transform the brightest minds on our campuses into job creators, not just job seekers,” Idris explained.
Another flagship programme, the Three Million Technical Talent (3MTT) initiative, has reportedly made substantial progress in 2025, building what Idris described as Africa’s largest digital talent pool.
The minister emphasized that these educational and entrepreneurial interventions are part of a broader strategy to position Nigeria as a hub of innovation, skills development, and youth empowerment.
With the successful implementation of NELFUND and associated programs, the federal government is signaling its commitment to both nurturing the next generation of professionals and stimulating economic growth through education and digital enterprise.
