"Your Children May Be Collecting NELFUND Without Telling You” — Oyedele

 "Your Children May Be Collecting NELFUND Without Telling You” — Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has suggested that some 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 an audience member who said his three children in tertiary institutions had not received NELFUND support and that they were unaware of anyone who had benefited from the scheme.

The minister encouraged the parent to speak directly with his children and ask whether they had applied for the programme.

“It is possible they’ve collected the money, and they are collecting from you,” Oyedele said.

He further urged parents to ask their children for evidence of their applications and to ensure they are being open about any financial support received through the scheme.

According to Oyedele, parents whose children have not applied can also assist them with the application process.

NELFUND support goes beyond tuition

The minister highlighted that NELFUND support is not limited to tuition payments. He noted that eligible beneficiaries may also receive a monthly stipend, describing the support as particularly significant given the current economic climate.

“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.

Oyedele also stated that students could access up to ₦1.5 million through the scheme, while encouraging parents and students who are yet to benefit to understand the application process and take advantage of the opportunity where eligible.

 A reminder for students and parents

With NELFUND continuing to provide financial assistance to students, beneficiaries and prospective applicants are encouraged to stay informed, verify their application status and understand the terms attached to the support.

For parents, Oyedele’s message serves as a reminder to maintain open communication with their children about educational finances.

The question now is simple: Have you asked your child if they applied for NELFUND?