WorldStage— The Minister of Education, Dr Rauf Tunji Alausa, has disclosed that the Nigerian Education Loan Fund (NELFund) had disbursed ₦372.62 billion to students and participating institutions as of September 29, 2026.
The Minister made the disclosure during a panel session titled “Building Nigeria’s Future Workforce” at the 32nd Nigerian Economic Summit, organised by the Nigerian Economic Summit Group (NESG) in Abuja.
Dr Alausa highlighted the role of the NELFund as giving students access to tertiary education and helping them overcome financial barriers to higher education.
He said the Ministry was also working with the National Universities Commission and other relevant stakeholders to encourage modern, industry relevant courses that reflect the evolving requirements of the labour market.
Beyond academic qualifications, the Minister emphasised the need to equip students with entrepreneurial skills that would enable them to create businesses and employment opportunities.
He disclosed that the Entrepreneurial Innovation and Business Incubation Certification programme was being piloted in 14 universities, with plans to extend it across universities from the next academic session.
He explained that the initiative was developed to restore the relevance of technical education and ensure that skills training responds directly to the needs of employers, businesses and emerging sectors.
Alausa called for stronger partnerships between government, educational institutions and employers, stressing that industry stakeholders should participate in defining occupational standards, shaping relevant curricula, assessing practical competencies and providing workplace training opportunities.
He maintained that the success of education reforms should be measured not only by enrolment and graduation figures but also by the number of graduates and trainees who secure employment, establish viable businesses, improve their earnings and contribute to national productivity.
The panel discussion formed part of the 32nd Nigerian Economic Summit, held under the theme “Growth That Works”. The summit convenes public and private sector leaders to examine policies and strategies for strengthening Nigeria’s economic performance, productivity and shared prosperity.
The Minister reaffirmed the Ministry’s commitment to an education system that connects learning with the productive economy and prepares Nigerian youths to compete effectively in a technology driven and increasingly skills based global labour market.
