US EditionDevelopment Levy: NELFUND seeks National Assembly backing for 25% allocation
NELFUND seeks to use its 25% share of the 4% Development Levy on taxable companies' profits to expand education loans and improve Nigeria's human capital, requiring National Assembly support.
4 Articles
4 Articles
NELFUND seeks legislation for education financing framework
The Nigerian Education Loan Fund (NELFUND) has called for stronger collaboration with the National Assembly to ensure the effective implementation of the newly approved Development Levy, which is set to take effect from January 1, 2026. The levy, introduced under the National Taxation Act (NTA 2025), imposes a 4 percent charge on the profits of taxable companies, excluding small and non-resident firms as well as hydrocarbon-related profits. NELF…
Development Levy: NELFUND seeks National Assembly backing for 25% allocation
The Nigerian Education Loan Fund, NELFUND, has sought the support and collaboration of the National Assembly to ensure that its 25 per cent allocation is fully realised and effectively deployed. This comes ahead of the implementation of the new Development Levy, which takes effect on January 1, 2026. The appeal was contained in a statement issued on Monday by the Managing Director of the Fund, Akintunde Sawyerr. Sawyerr stressed that timely appr…
NELFUND Urges NASS Support For 25% Development Levy Implementation
The Nigerian Education Loan Fund (NELFUND) has called for stronger collaboration with the National Assembly to ensure effective implementation of its 25 percent allocation from the new Development Levy. The levy, introduced under the National Taxation Act (NTA 2025), imposes a 4 percent tax on assessable profits of taxable companies, excluding small and non-resident companies, as well as profits from hydrocarbon tax. According to NELFUND’s Manag…
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