So far, 418,000 Students had Benefited from NELFUND - Tinubu
By Olanrewaju BABATUNDE
No fewer than four hundred and eighteen (418,000) students cutting across several tertiary institutions in Nigeria had secured the Nigeria Educational Loan Fund (NELFUND) to further their studies, according to President Bola Ahmed Tinubu.
He disclosed this while presenting the 2026 Appropriation Bill of N58.18 trillion to a joint session of the National Assembly, yesterday in Abuja.
A breakdown of the bill tagged 'Budget of Consolidation, Renewed Resilience and Shared Prosperity', indicated that defense and security took the lion share of #5.41 trillion.
The budget, which projected a total revenue of N34.33 trillion and total expenditure of N58.18 trillion, including N15.52 trillion for debt servicing, earmarked the sum of #15.25 trillion for recurrent (non-debt) expenditure while capital expenditure was allocated #26.08 trillion with a fiscal deficit of N23.85 trillion, representing 4.28 per cent of Gross Domestic Product.
The sectorial allocations were true reflections of the Renewed Hope Agenda and the practical needs of Nigerians, the President added.
However, considering the high premium the current administration places on human capital development, the sum of #3.52trillion was allocated to the educational sector with a view to consolidate on the gains recorded so far in the subsector, especially in the Nigeria Educational Loan Fund (NELFUND).
The President said the allocation to the educational sector provides an ample opportunity to expand access to tertiary education, particularly among the less privileged in the society.
He noted that the priority given to some critical sectors of the economy including defence, education, infrastructure as well as health was intentional in view of the interconnection among them.
According to Mr. President, "These priorities are interlinked. Without security, investment will not thrive. Without educated and healthy citizens, productivity will not rise. Without infrastructure, jobs and enterprise will not scale. This is why the budget is designed as one coherent programme of national renewal.
" Security remains the foundation of development. The 2026 budget strengthens support for:
modernisation of the Armed Forces;
intelligence‑driven policing and joint operations;
border security and technology‑enabled surveillance; and
community‑based peace building and conflict prevention.
"In education, we are expanding access to higher education through the Nigerian Education Loan Fund (NELFUND).
"So far, over 418,000 students have been supported, in partnership with 229 tertiary institutions nationwide."
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