By Mercy Aikoye
President Bola Tinubu has announced that the Federal Government has disbursed N34 billion as loans to over 300,000 students across Nigeria’s tertiary institutions through the Nigeria Education Loan Fund.
This was revealed during the presentation of the N49.7 trillion 2025 budget estimates to the National Assembly.
The Nigeria Education Loan Fund was established to provide financial support to qualified Nigerian students for tuition and other fees, charges, and upkeep during their studies in approved tertiary academic institutions and vocational and skills acquisition institutions within Nigeria ².
In addition to the loan disbursement, President Tinubu also announced that the government has allocated N826.90 billion for infrastructure development in the educational sector in the 2025 fiscal year. This provision includes funds for the Universal Basic Education and the nine new higher educational institutions.
The government’s investment in education is expected to have a positive impact on the sector. The Nigeria Education Loan Fund has already disbursed N2.9 billion to 19 institutions across the country, benefiting 27,667 students.
President Tinubu also highlighted the government’s commitment to improving healthcare in Nigeria. The 2025 budget allocates N402 billion for infrastructure investments in the health sector and another N282.65 billion for the Basic Health Care Fund.
The government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide is also expected to improve healthcare access and reduce medical import dependency.
Overall, the government’s investments in education and healthcare are expected to have a positive impact on the lives of Nigerians. The Nigeria Education Loan Fund and the allocation of funds for infrastructure development in the educational sector are significant steps towards improving access to education.
