NELFUND seeks NASS support to maximise education financing from devt levy

By Joseph Erunke

Abuja-The Nigerian Education Loan Fund, NELFUND, has called for stronger collaboration with the National Assembly to guarantee the effectual implementation of the caller improvement levy which takes effect connected January 1, 2026.

Under the precocious approved National Taxation Act (NTA 2025), a 4 percent improvement levy volition beryllium imposed connected the  profits of taxable companies to beryllium assessed, excluding tiny and non-resident firms arsenic good arsenic profits taxable to hydrocarbon tax.

NELFUND is allocated 25 percent of the levy proceeds, a determination the Fund described arsenic a “pivotal opportunity” to grow entree to affordable acquisition loans for Nigerian students.

In a connection signed by the Managing Director/Chief Executive of NELFUND, Mr Akintunde Sawyerr, said the caller backing watercourse provides a stronger basal for it to present connected its mandate.

However, the Fund stressed that occurrence would beryllium connected 3 cardinal factors, including timely appropriation by the National Assembly; businesslike money releases by the Ministry of Finance and the Office of the Accountant-General of the Federation; and robust nationwide sensitisation.

To afloat harness the levy’s potential, NELFUND outlined its strategical priorities, which see launching nationwide consciousness campaigns to amended students, families, and institutions connected however to entree loans nether the caller strategy and investing successful integer platforms and infrastructure for transparent, user-friendly indebtedness applications and disbursement.

Others are strengthening partnerships with tertiary institutions to streamline medication and repayment processes and expanding inclusivity by targeting underserved regions and susceptible groups to guarantee nary eligible pupil is near behind.

“The 25 percent allocation from the improvement levy marks a turning constituent successful Nigeria’s acquisition financing landscape.  It equips america to scope much students, fortify our systems, and present much efficaciously connected our mandate.

‘’But for this to construe into existent impact, we request beardown collaboration with the National Assembly, the Ministry of Finance, and the Office of the Accountant-General.”

 Together, we tin physique a strategy wherever nary Nigerian pupil is denied acquisition owed to fiscal barriers, “ Sawyerr said.

NELFUND reaffirmed its committedness to accountability, transparency and prudent money management, assuring stakeholders that each allocation would beryllium directed toward expanding entree to acquisition and strengthening Nigeria’s quality superior base.

The station NELFUND seeks NASS enactment to maximise acquisition financing from devt levy appeared archetypal connected Vanguard News.