Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, has indicated that some students may have obtained financial support from the Nigerian Education Loan Fund (NELFUND) without their parents’ knowledge.
Oyedele made this statement during a press conference in Abuja, prompted by a journalist who expressed that his three children had not benefited from the program and were unaware of anyone who had.
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The minister encouraged the journalist to ask his children if they had applied for the funding and to seek proof of their applications. “It’s possible they’ve received the funds and are just keeping it from you,” Oyedele remarked, urging, “You should encourage your children to be truthful with you.”
He also suggested that parents help their children apply if they haven’t done so already, highlighting that students can access up to N1.5 million through this initiative.
“If there’s anything everyone can agree on, it’s the significance of NELFUND,” he noted.
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Additionally, Oyedele mentioned that the program offers more than just tuition coverage, as beneficiaries also receive monthly stipends.
“We’ve seen videos of students celebrating because their funding includes not just tuition but also monthly, interest-free stipends, which is vital in today’s high inflation environment,” he explained.
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He urged parents who are uncertain about the application process to assist their children in applying, saying, “You can visit the website. In fact, you can ask any of your three children for their information and help them with the application.”
The minister also pointed out that participation in NELFUND is higher in Northern Nigeria compared to the South, which he believes is due in part to skepticism towards government programs.
“Interestingly, we see greater uptake in the North than in the South because we tend to spend a lot of our time doubting government initiatives,” he commented.
