NELFUND Seeks National Assembly Support On Education Financing

The Nigerian Education Loan Fund (NELFUND) has solicited the enactment and collaboration from the National Assembly to guarantee that its 25 per cent allocation successful the caller Development Levy was afloat realised and efficaciously deployed.

Managing Director of NELFUND, Mr Akintunde Sawyerr, successful a connection connected Monday, noted that the 25 per cent allocation from the ‘Development Levy’ marks a pivotal measurement towards transforming Nigeria’s acquisition financing landscape.

He said: “It gives america the capableness to scope much students, fortify our systems, and present connected our mandate much effectively. But for this accidental to construe into existent impact, we request beardown collaboration with the National Assembly successful the appropriation process and successful nationwide sensitisation, portion besides moving with the Federal Ministry of Finance and the Office of the Accountant-General to guarantee businesslike releases.

“Together, we tin physique a stronger, much inclusive strategy wherever nary Nigerian pupil is denied the accidental to larn due to the fact that of fiscal constraints. Timely appropriation, businesslike releases, and broad-based sensitisation are captious to unlocking the transformative imaginable of this backing successful expanding entree to affordable acquisition loans for Nigerian students.”

He noted the precocious approved National Taxation Act (NTA 2025) that introduced a 4 per cent “Development Levy” connected the assessable profits of taxable companies, excluding tiny and non-resident companies arsenic good arsenic profits from hydrocarbon tax.

“Under this framework, NELFUND is allocated 25 per cent of the levy proceeds, representing a important accidental to standard acquisition financing and enactment millions of Nigerian students successful pursuing their world aspirations.”

He besides reaffirmed NELFUND’s unwavering committedness to accountability, transparency, and liable money management, assuring each stakeholders that each naira allocated volition beryllium directed towards broadening entree to acquisition and strengthening Nigeria’s quality capital development.