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The NELFUND, launched in 2024, is a government-backed initiative to provide affordable and accessible education financing to students from low-income backgrounds. By offering interest-free loans and flexible repayment terms, the programme seeks to remove the financial obstacles that have historically prevented many Nigerians from pursuing higher education.
Moreover, the NELFUND focus on low-income people aligns with the broader goal of reducing poverty and promoting inclusive economic development. Education, as a powerful driver of social mobility, can break the cycle of intergenerational poverty by equipping individuals with the knowledge, skills, and credentials necessary to secure well-paying jobs and create economic stability for themselves and their families.
Of course, the success of the NELFUND in realising its social justice objectives will depend on its practical implementation, robust monitoring and evaluation, and the government’s continued political will to sustain and expand the programme. However, the mere existence of such an initiative represents a significant step forward in Nigeria’s journey towards a more equitable and just society, where the transformative power of education is accessible to all.