The Nigerian Education Loan Fund has called on the national assembly to support the timely release of its 25 per cent allocation from the new development levy.
The levy, introduced under the National Taxation Act 2025, imposes a 4 percent charge on the assessable profits of taxable companies, excluding small and non-resident firms, and takes effect from January 2026.
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NELFund managing director Akintunde Sawyerr said the allocation would significantly boost affordable student loans but stressed the need for strong collaboration with lawmakers, the finance ministry and the accountant-general for effective implementation.
The fund also plans nationwide sensitisation campaigns, expanded outreach to underserved regions, and digital platforms for transparent loan applications to ensure no eligible student is left behind.
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