The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has suggested that some Nigerian students may be receiving financial support from the Nigerian Education Loan Fund (NELFUND) without their parents’ knowledge.
Oyedele made the remark during a media briefing in Abuja on Wednesday while responding to a journalist who said his three children had not benefited from the student loan scheme and that he did not know anyone who had.
The minister advised the journalist to ask his children whether they had applied for the programme and to request evidence of their applications.
“It is possible they’ve collected the money, and they are collecting from you,” Oyedele said, urging parents to ensure their children were honest with them.
He encouraged parents whose children had not applied to assist them with the process, noting that students could receive up to ₦1.5 million under the scheme. Oyedele also highlighted that NELFUND support goes beyond tuition payments, as beneficiaries may also receive monthly stipends. While making reference to videos of students celebrating after receiving the support, stressing that the scheme covers more than just tuition fees.
“We’ve seen videos of students 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.
The minister urged parents who were unfamiliar with the application process to support their children in accessing the scheme.
“You can go to the website. In fact, what you can do, ask any of those three children to give you their details. Help them apply,” he said.
Oyedele further disclosed that NELFUND participation has been higher in Northern Nigeria than in the South. He attributed the disparity partly to what he described as greater uncertainty toward government programmes in the southern region.
“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 added.
By Musekir Faisat Omolara
