The Federal Government approves the transfer of ₦120 billion from the Tertiary Education Trust Fund (TETFUND) to the Nigerian Education Loan Fund (NELFUND) in order to finance the Federal Ministry of Education’s TVET (Technical and Vocational Education and Training) initiative. This is a significant step in ensuring that young Nigerians have the skills necessary for the workforce.
The program is part of a larger plan to increase vocational education and equip young people in Nigeria with useful, employable skills, the Federal Ministry of Education affirmed when it approved the funds. According to the ministry, “this action aims to empower Nigerian youth with practical, job-ready skills.”
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For eligible candidates, NELFUND will cover all training expenses under this program, guaranteeing that access to technical and vocational education is not impeded by financial limitations. The procedure will be inclusive and efficient because all funding will be distributed directly to participants.
The TVET program aims to increase access to vocational training across the country in order to promote self-reliance and lower young unemployment. Official training sessions should start soon, according to those familiar with the implementation.
By giving young people the chance to gain skills in in-demand fields and make significant contributions to the economy, this money is a calculated investment in Nigeria’s workforce development.
This indicates Nigeria’s renewed commitment to closing the skills gap and developing a workforce prepared for the realities of the contemporary labor market, which is significant for MSMEs, employers, and development stakeholders throughout Africa. Thousands of young people are given a lifeline as the TVET program takes shape, setting them up for long-term economic growth, entrepreneurship, and gainful employment.
