FG spends N150 billion on 788,000 students under NELFUND, says minister
The federal government has spent over N150 billion naira on 788,000 students in the Nigeria Education Loan Fund (NELFUND) initiative.
The minister of information and national orientation, Mohammed Idris, stated this at the end of year news conference on Monday in Abuja.
Mr Idris said the President Bola Tinubu’s administration had recorded significant achievement in different sectors, especially education.
According to him, 2025 has been a bumper year in targeted and catalytic policy making and implementation, especially for young Nigerians.
“NELFUND has now supported over 788,000 Nigerian students with interest-free loans and stipends amounting to over 150 billion naira and still counting.
“Similarly, the federal government ‘s’ Investment in Digital and Creative Enterprises (iDICE) programme officially kicked off during the year.
“It is with an anchor investment in a new multi-million-dollar venture fund that will support the creative and digital entrepreneurship aspirations of young Nigerians.
“In 2025 the Federal Government launched the Student Venture Capital Grant (S-VCG),” Mr Idris said.
According to him, the S-VCG is offering equity-free financing of up to ₦50 million for undergraduate innovators in Science, Technology, Engineering, Mathematics, and Medicine (STEMM) disciplines, across accredited tertiary institutions.
He further explained that ”with this new intervention, the country is nurturing the seeds of entrepreneurship in its campuses and turning brightest minds into job creators, not just job seekers.”
He added that the Three Million Technical Talent (3MTT) programme made significant progress during the year, as it builds Africa’s largest digital army.
(NAN)
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