300,000+ Students, 900,000 Businesses Benefit From Loan Schemes

More than 300,000 students are now benefiting from the revived Nigerian Education Loan Fund (NELFUND), which offers interest-free loans to cover tuition and upkeep for students in federal and state tertiary institutions — opening the door to higher education for families who previously couldn't afford it.

In parallel, over 900,000 micro, small, and medium enterprises (MSMEs) have accessed the Presidential Loan and Grant Scheme, part of a broader push to fuel entrepreneurship and job creation across all 36 states.

Both schemes are administered digitally, with applicants verified through the National Identification Number (NIN) system to reduce fraud and ensure funds reach genuine students and business owners.

Officials describe the two programmes as central to the administration's effort to translate macroeconomic recovery into direct, tangible benefits for young Nigerians and small business owners ahead of 2027.