This one is good news but before then, let's do some rewinding. Since the takeover of the President seat by Bola Ahmed Tinibu, it has been one ride we are blending in year after year. The first heat was the removal of fuel subsidies from day one which escalated the national economy.
It is surprising or better put, more of a miracle that his country is still standing till date. At that time, it seemed it was the summary of the country called Nigeria. I learned something, worries don't solve problems if you know your true source.
Moving on, tax is coming from January 1st, 2026. Yes, the economy is still operating at high standards, no electricity subsidy anymore and also, VATs are real. Banks keep slashing it out instantly with the feedback message that it is not them but rather a compliance with government Acts.
As we start to analyze ahead of time how the upcoming numerous tax Acts that have been signed into law will influence big firms, SMEs, individuals and households alike, let's just turn our attention to this latest news that hit us yesterday.
Image generated from source
It is about NELFUND (Nigerian Education Loan Fund), and according to the information gathered, it is worth welcoming. I have to admit it has been a rough ride from this regime but I can't close my eyes against what is done right. When anything about education is brought to the table, my key takeaway is exposure rather than just schooling.
Not all are still yet privileged to enter the four walls of the tertiary system courtesy of lack of financial aid. The economy is tough on many households, especially those who have many mouths to feed. Adding to that, some are facing challenges of orphanhood which is completely distancing them from meeting up daily needs.
So yes, I give a big thumbs up to this. So what is NELFUND and how does it work?. It is a government opened up platform to support student tertiary education by catering for their fees. Currently, students who got admission and lack the financial capacity to pay for their tuition can now apply for such a loan (actually, the portal for application opens from tomorrow 23rd October, 2025).
I am happy about this because last week, I met someone who was discussing such challenges he was facing. He got admitted but didn't have the funds to secure this admission process. Inside me was just ‘God will make a way’ and a week later, there is good news. I will try my best to relate back to him on this and I hope he is able to take advantage of this opportunity.
Image generated from source Maybe, just maybe, this has been one of the reasons for VATs and the upcoming taxations. Anyway, one would ask about the direction of our oil funds. Let's not get there, it will be another long list crackdown. Our economy has suffered the fate of bad governance and we can tie it down to only this current government.
To conclude, let me add, there is still much to talk about concerning the present NELFUND, earlier said, its official enrolling date is Thursday 23rd October 2025 and it will be closing on Saturday, the 31st of January 2026. I think the gap is wide enough for many to get the needed awareness and apply to get their educational dreams going.
I sure will be covering a follow up article(s) concerning NELFUND; how will it affect Nigerians and its educational system, does this open doors for more people wanting to focus on their educational career? How will it affect the future economy; we should consider what massive awareness can do to a country. Having a huge percentage of literate persons is a big advantage, will it also help to bring talents and hidden creativities into the open picture.
There is much to discuss, the terms of enrollment is also what I will have to be looking at and to get it out early enough; IT IS FREE as long as you meet the needed paper criteria; admission letter or the needed JAMB results. So how will the payback be made, how long and what will there be a percentage charges on it. We will be covering this in the coming days. Till then, we have to encourage this educational greenlight strategy.
Posted Using INLEO