The Nigerian Education Loan Fund, NELFUND, has sought the support and collaboration of the National Assembly to ensure that its 25 per cent allocation is fully realised and effectively deployed.
This comes ahead of the implementation of the new Development Levy, which takes effect on January 1, 2026.
The appeal was contained in a statement issued on Monday by the Managing Director of the Fund, Akintunde Sawyerr.
Sawyerr stressed that timely appropriation, efficient releases, and broad-based sensitisation are critical to unlocking the transformative potential of the funding in expanding access to affordable education loans for Nigerian students.
DAILY POST reports that the recently approved National Taxation Act, NTA 2025, introduces a 4 per cent Development Levy on the assessable profits of taxable companies, excluding small and non-resident companies, as well as profits from hydrocarbon tax.
NELFUND explained that it was committed to expanding nationwide sensitisation campaigns to raise awareness among students, families, and institutions on how to access education loans under the new framework. It outlined its forward-looking plans thus:
“Investing in digital platforms and infrastructure to ensure transparent, efficient, and user-friendly loan application and disbursement processes.
“Strengthening partnerships with tertiary institutions to streamline loan administration and repayment frameworks, and deepening inclusivity and outreach, particularly targeting underserved regions and vulnerable groups, to guarantee that no eligible student is left behind.”
Development Levy: NELFUND seeks National Assembly backing for 25% allocation
