Oyedele: Students May Secretly Access NELFUND, Advise Parents to Confirm

During a media interaction in Abuja on Wednesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, put forward the idea that some students might be benefiting from the Nigerian Education Loan Fund (NELFUND) without their parents being aware. This comment came as a direct response to a member of the audience who expressed that his three university-attending children had not received any NELFUND disbursements and were also unaware of any peers who had.

Minister Oyedele advised the journalist to directly question his children about their applications to the scheme and to request proof of submission. He remarked, "It is possible they’ve collected the money, and they are collecting from you," further adding, "You need to ask your children to be honest with you." Oyedele also encouraged parents to assist their children in the application process if they hadn't already done so, emphasizing the accessibility of the NELFUND initiative. "If there’s anything that everyone can attest to, it is this NELFUND," he stated.

The Minister highlighted various video clips showing students celebrating after receiving the financial aid, noting that the NELFUND program extends beyond just tuition fees. He explained, "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." Students are eligible to access up to N1.5 million through this interest-free loan program. Oyedele urged parents unfamiliar with the application steps to guide their children.

He provided clear instructions: "You can go to the website. In fact, what you can do, ask any of those your three children to give you their details. Help them apply. If you can’t find the link, come to Ministry of Finance. We will help you. You will do it yourself. You apply for one of those three children and you get the amount." He also reiterated the importance of parents verifying if their children had indeed applied for the loan. "The Honourable Minister is saying we should even ask you whether they’ve shown you the evidence that they applied. You need to go and ask them," he stressed.

Furthermore, Oyedele revealed that the adoption rate for NELFUND support has been notably higher in Nigeria's northern regions compared to the South. He attributed this disparity to a tendency in the South to "spend all our energy here doubting everything that government does." He assured that the government's experience with the scheme indicates that beneficiaries consistently receive payment alerts once their applications are processed.

Recalling his own experience with a personal foundation supporting indigent students, Oyedele shared how some beneficiaries continued to seek his assistance even after being directed to apply for available support. He concluded by saying, "Many of them were still coming to me after I said go and apply. I sent link to them within two weeks. They said we got alerts," underscoring the effectiveness of the NELFUND program.