FG spends over ₦150bn on 788,000 students under NELFUND – Minister

Minister of Information and National Orientation, Mohammed Idris

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

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

According to the minister, 2025 has been a landmark year for targeted and impactful policymaking, with a strong focus on empowering young Nigerians.

He explained that NELFUND has provided interest-free education loans and stipends to hundreds of thousands of students, with total disbursements now exceeding ₦150 billion and still rising.Jj

“In addition, the Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme was officially launched this year,” Idris said.

“The programme is anchored by a multi-million-dollar venture fund aimed at supporting the creative and digital entrepreneurship ambitions of young Nigerians.”

The minister also revealed that the government introduced the Student Venture Capital Grant (S-VCG) in 2025, offering equity-free funding of up to ₦50 million to undergraduate innovators in Science, Technology, Engineering, Mathematics, and Medicine (STEMM) disciplines across accredited tertiary institutions.

He noted that the initiative is designed to nurture innovation on campuses and transform talented students into job creators rather than job seekers.

Idris further stated that the Three Million Technical Talent (3MTT) programme recorded significant progress during the year, as it continues to build what he described as Africa’s largest pool of digital talent.