The National Assembly and the Nigerian Education Loan Fund (NELFUND) have announced plans to significantly expand the Federal Government’s student loan programme, with a target of reaching seven million beneficiaries across the country.
The initiative is aimed at widening access to higher education and ensuring that financial challenges do not prevent qualified Nigerians from pursuing tertiary education.
Officials said the planned expansion follows the growing acceptance of the scheme among students and tertiary institutions nationwide. Since its launch, the programme has provided financial support for tuition fees and upkeep allowances to thousands of students in universities, polytechnics and colleges of education.
The National Assembly reaffirmed its commitment to strengthening the scheme through legislative support and adequate funding, describing education financing as a critical investment in the country’s human capital development.
NELFUND officials noted that efforts are underway to improve the application process, increase awareness among students and enhance collaboration with tertiary institutions to ensure seamless disbursement of funds.
According to the agency, the expansion is expected to bring millions of additional students into the programme, helping to reduce school dropout rates caused by financial hardship and improving access to quality education.
Stakeholders have welcomed the move, describing it as a major step toward achieving inclusive education and empowering young Nigerians with the opportunity to complete their studies without the burden of immediate financial constraints.
The student loan scheme forms part of the Federal Government’s broader education reform agenda aimed at improving access, equity and quality in Nigeria’s tertiary education sector. As implementation progresses, NELFUND and the National Assembly expressed optimism that the programme will become one of the largest education support initiatives in the country’s history, benefiting up to seven million students in the coming years.