The Nigerian Education Loan Fund (NELFUND) has said the N100 billion annual scholarship initiative by the Aliko Dangote Foundation will significantly expand access to education financing in Nigeria.
In a statement on Saturday, NELFUND described the scheme as a strong private-sector intervention aligned with President Bola Tinubu’s Renewed Hope Agenda on education. The initiative was unveiled in Lagos, with Vice President Kashim Shettima representing the President.
NELFUND Managing Director, Akintunde Sawyerr, said the programme would help remove financial barriers for students, noting that its focus on public secondary schools, public tertiary institutions and STEM disciplines would strengthen national efforts to improve education access.
He added that NELFUND is ready to collaborate with the Dangote Foundation and government partners to ensure transparency, efficiency and broad impact.
The N100bn annual scholarship scheme, announced by Dangote Group Chairman, Aliko Dangote, is a 10-year programme scheduled to begin in 2026. It is expected to grow from 45,000 beneficiaries to 155,000 scholars annually by the fourth year, ultimately reaching about 1.3 million students nationwide.
