By: Odeh Favour Adiya
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has suggested that some students across the country may have successfully accessed funding from the Nigerian Education Loan Fund (NELFUND) without informing their parents.
Oyedele made the remark during a media briefing on Wednesday in Abuja, following a question raised by an audience member. The journalist noted that his three children currently enrolled in tertiary institutions had not received NELFUND funding and were unaware of any peers who had benefited from the financial support scheme.
In response, Oyedele urged the parent to directly engage his children, ask whether they had submitted applications for the loan, and request concrete proof of their application status.
“It is possible they’ve collected the money, and they are collecting from you,” the minister said.
He emphasized the need for open communication between parents and students regarding the financial aid program.
“You need to ask your children to be honest with you,” he added.
Oyedele assured the audience that if the children had not yet applied, the parent could guide them through the process, reiterating that the existence and operational effectiveness of the scheme are beyond doubt.
“If there’s anything that everyone can attest to, it is this NELFUND,” he said.
Highlighting the scope of the financial relief offered by the scheme, the minister noted that beneficiaries receive support beyond basic tuition fees, including monthly living allowances designed to ease economic pressures.
“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.
He explained that students can access up to N1.5m through the platform and advised parents who are unfamiliar with the digital application procedure to assist their children or seek direct guidance.
“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,” Oyedele stated.
He further offered the assistance of his ministry to anyone struggling to navigate the online application portal.
“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 said.
Addressing the audience member directly, Oyedele reiterated that parents must first demand verification from their children before concluding that the system is non-functional.
“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 said.
Speaking on regional participation rates, Oyedele disclosed that the uptake of NELFUND benefits has been noticeably higher in northern states compared to the southern parts of Nigeria, attributing the disparity to widespread skepticism in certain regions.
“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.
He noted that the government’s direct operational experience confirms that registered applicants routinely receive credit alerts shortly after completing their submissions.
Reflecting on his personal initiatives to assist underprivileged students through his private foundation, Oyedele shared that many students continued to ask him for financial aid even after he directed them to the NELFUND portal.
“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,” he said.
