Over 1 Million Nigerians Benefit from FG’s Renewed Hope Business and Student Loan Schemes
The Federal Government of Nigeria has announced that over one million citizens are benefiting from various loan and grant programs under President Bola Tinubu’s Renewed Hope Agenda.
Speaking at a Progressive Governors’ Forum conference in Minna, Niger State, on July 10, 2025, Minister of Information and National Orientation Mohammed Idris highlighted how funds from the petrol subsidy removal are fueling transformative infrastructure and social initiatives.
Idris revealed that over 900,000 small businesses have accessed the Presidential Conditional Grant and Loan Scheme, while more than 350,000 students are supported by the Student Loan Scheme. “The Renewed Hope Agenda goes beyond macroeconomic reforms.
It is about creating concrete opportunities for prosperity across sectors – for individuals, for families, and for communities,” he said.
The minister noted that the government has committed approximately ₦70 billion to the Student Loan Scheme, with over 600,000 applications received, ensuring no young Nigerian is left behind due to financial constraints.
Additionally, ₦75 billion is being disbursed through the Bank of Industry to support Micro, Small, and Medium Enterprises (MSMEs), fostering job creation and economic growth.“These are not just abstract numbers or policy points,” Idris emphasized. “They are opportunities real, measurable opportunities for every Nigerian.”
Defending the removal of the petrol subsidy, Idris called it a “painful but necessary reform” that has saved the economy from fiscal collapse and curbed wasteful expenditure.
The redirected funds are now financing major infrastructure projects, including the Lagos-Calabar Coastal Superhighway, Sokoto-Badagry Superhighway, Kaduna-Kano Standard Gauge Railway, and Abuja-Kaduna-Kano Expressway.
These projects aim to enhance connectivity and economic activity nationwide.
Idris also highlighted increased monthly allocations to state governments, enabling local projects that deliver transformative impacts.
He urged state Commissioners for Information to leverage platforms like the National Orientation Agency to educate citizens about these reforms and how to access them. “It is therefore our duty, as information managers, to ensure that the citizens of this country, across all the states of the Federation, not only know about these reforms and programmes but also understand how to access and benefit from them,” Idris said. “President Bola Ahmed Tinubu is keeping faith with Nigerians. You now must translate that faith into hope and action at the grassroots.”
