Koko Maxwella 
ABUJA, Nigeria – The Nigerian Education Loan Fund (NELFUND) is calling for stronger collaboration with lawmakers and financial institutions as the federal government prepares to roll out a new 4% Development Levy on company profits from January 1, 2026.
Introduced under the National Taxation Act (NTA 2025), the levy excludes small and non-resident firms as well as hydrocarbon tax profits.
Under the framework, 25% of proceeds will be allocated to NELFUND, a move expected to significantly boost access to affordable student loans.
In a statement on Monday, the Managing Director, NELFUND, Mr Akintunde Sawyerr, described the new funding as a potential game changer for Nigeria’s education sector.
“The 25% allocation from the Development Levy marks a pivotal step towards transforming Nigeria’s education financing landscape. It gives us the capacity to reach more students, strengthen our systems, and deliver on our mandate more effectively. But for this opportunity to translate into real impact, we need strong collaboration with the National Assembly, Ministry of Finance, and the Accountant-General’s Office,” Sawyerr explained.
He also emphasised the need for public awareness. “This is not just about resources; it is about awareness. Students, families, and institutions must understand how to access these opportunities. Without strong sensitisation, the impact will be limited,” he added.
NELFUND outlined plans to launch nationwide sensitisation campaigns, invest in digital loan platforms, strengthen partnerships with universities, and target underserved regions to ensure inclusivity.
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Otamere Gladness 
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