The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has suggested that some students may have received financial support from the Nigerian Education Loan Fund (NELFUND) without informing their parents.
Oyedele made the remark during a media briefing in Abuja on Wednesday while responding to an audience member who claimed that his three children in school had not benefited from the scheme and that they did not know anyone who had received the funding.
The minister advised the parent to ask his children whether they had applied for NELFUND support and request evidence of their applications.
“It is possible they’ve collected the money, and they are collecting from you,” Oyedele said.
He added, “You need to ask your children to be honest with you.”
Oyedele further advised the parent to assist his children in applying for the scheme if they had not already done so.
“If there’s anything that everyone can attest to, it is this NELFUND,” he said.
The minister highlighted the impact of the programme, noting that it provides support beyond tuition fees, including monthly stipends to eligible students.
“We’ve seen video of student randomly rejoicing because it’s not only the tuition that was being paid, they get monthly stipend interest free in a high inflationary environment,” he said.
According to Oyedele, students can access up to N1.5 million through the scheme, and he encouraged parents who were uncertain about the application process to support their children in accessing the funding.
The minister also disclosed that NELFUND uptake was higher in northern Nigeria than in the southern part of the country.
“Interestingly, the uptake is more in the North than in the South because we spend all our energy here doubting everything that government does,” he said.
Oyedele said the government’s experience with the scheme indicated that beneficiaries had been receiving payment alerts after successfully applying.
He also recounted his experience supporting indigent students through a personal foundation, saying some beneficiaries continued to approach him for financial assistance even after he had directed them to apply for available government support.
