300,000 students receive N34 billion in education loans from the Tinubu administration.

Through the Nigeria Education Loan Fund, the Federal Government has issued N34 billion in loans to more than 300,000 students at Nigeria’s higher institutions, according to President Bola Tinubu.

This was disclosed to the National Assembly when the N49.7 trillion 2025 budget estimates were presented.

The Nigeria Education Loan Fund was created to help eligible Nigerian students pay for tuition and other fees, charges, and maintenance while they are enrolled in accredited postsecondary educational institutions as well as vocational and skills training centers in Nigeria.

President Tinubu revealed that the government has set aside N826.90 billion for the building of educational infrastructure in the fiscal year 2025, in addition to the loan disbursement. Funds for the nine new higher education institutions and Universal Basic Education are included in this clause.

It is anticipated that the sector will benefit from government investment in education. 27,667 students have benefited from the N2.9 billion that the Nigeria Education Loan Fund has already distributed to 19 universities nationwide.

Additionally, President Tinubu emphasized the government’s dedication to enhancing Nigerian healthcare. The 2025 budget allots N282.65 billion for the Basic Health Care Fund and N402 billion for health sector infrastructure investments.

It is anticipated that the government’s planned acquisition of necessary medications for distribution to public healthcare facilities across the country will enhance healthcare accessibility and lessen reliance on imported medications.

In general, it is anticipated that Nigerians’ lives will be improved by the government’s spending on healthcare and education. Important measures toward expanding access to education include the establishment of the Nigeria Education Loan Fund and the distribution of cash for the improvement of educational facilities.

Source: The Authority