The Nigerian Education Loan Fund (NELFUND) has called on the National Assembly to support and collaborate in ensuring that its 25 percent allocation is fully realized and effectively deployed.
The appeal comes ahead of the rollout of the new Development Levy, set to take effect on January 1, 2026. In a statement issued on Monday, the Fund’s Managing Director, Akintunde Sawyerr, emphasized that timely appropriation, efficient releases, and broad-based sensitization are vital to unlocking the transformative potential of the funding in expanding access to affordable education loans for Nigerian students.
The recently approved National Taxation Act (NTA 2025) introduces a 4 percent Development Levy on the assessable profits of taxable companies—excluding small and non-resident companies, as well as profits from the hydrocarbon tax.
Sawyerr further noted that NELFUND is committed to intensifying nationwide sensitization campaigns to raise awareness among students, families, and institutions on how to access education loans under the new framework.
