Your children may be collecting NELFUND without telling you – Oyedele

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has raised concerns that some students may have received financial support from the Nigerian Education Loan Fund (NELFUND) without their parents' knowledge. During a media briefing in Abuja, Oyedele was questioned by an audience member regarding his three children, who were unaware of any friends receiving NELFUND funding.

In response, Oyedele urged the journalist to ask his children about their applications and demanded evidence of their participation in the scheme.

He emphasized that parents should ask their children to be honest about their involvement in NELFUND, suggesting that their children may already have received the financial assistance and are unaware of it. Oyedele also pointed to videos showing students celebrating after receiving the support, stating that the scheme provides more than just tuition assistance; it includes an interest-free monthly stipend during high inflationary times.

The minister clarified that students can access up to N1.5 million through the scheme and advised parents who are uncertain about the process to assist their children in applying. Oyedele offered to help parents apply for their children on their behalf and requested the journalist to verify whether his children had actually applied for the scheme.

He also noted that the uptake of NELFUND support is higher in the northern part of Nigeria compared to the South, attributing this discrepancy to the tendency to doubt government actions.

Oyedele shared his personal experience with a personal foundation that supports indigent students, noting that some beneficiaries continued to seek assistance even after being directed to apply for available support. He concluded by stating that many of these students had received alerts confirming their applications, demonstrating the scheme's effectiveness.