The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has suggested that some students may have received financial support from the Nigerian Education Loan Fund without informing their parents.
Oyedele made the remark while responding to a participant at a media briefing in Abuja on Wednesday who complained that his three children in school had not benefited from the NELFUND scheme.
The participant also said his children were unaware of any of their friends who had received funding under the Federal Government’s student loan programme.
In response, Oyedele advised the parent to first confirm whether his children had applied for the scheme before concluding that they had not benefited.
“It is possible they’ve collected the money, and they are collecting from you,” the minister said.
He added, “You need to ask your children to be honest with you.”
Oyedele also advised the parent to assist his children in applying for the scheme if they had not already done so.
The minister defended the NELFUND programme, describing it as one of the government’s interventions that beneficiaries could directly attest to.
“If there’s anything that everyone can attest to, it is this NELFUND,” he said.
He said the government had received evidence of students benefiting from the scheme, including videos showing students celebrating after receiving financial support.
According to Oyedele, the assistance provided through NELFUND goes beyond the payment of tuition, as beneficiaries can also receive a monthly stipend.
“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.
The minister said eligible students could access up to N1.5m through the scheme, urging parents who were uncertain about the application process to help their children apply.
“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,” he said.
Oyedele added that parents who experienced difficulties accessing the application process could seek assistance from the Ministry of Finance.
“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.
He further advised the parent to establish whether his children had actually submitted applications before assuming that they had been excluded from the programme.
“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,” Oyedele said.
The exchange highlighted one of the challenges facing the implementation of government support programmes: awareness and access.
Although the Federal Government has promoted NELFUND as a major intervention to reduce the financial burden of tertiary education, some students and parents have raised concerns about access, eligibility and awareness.
The student loan programme was established under the Students Loans (Access to Higher Education) Act, which was signed into law in 2023.
The scheme was designed to provide financial assistance to students in tertiary institutions who require support to meet the cost of their education.
The programme was later expanded to cover more students and additional education-related expenses.
Unlike traditional loans, the Federal Government has repeatedly stressed that the scheme is intended to provide students with access to education without requiring immediate repayment while they are still studying.
The scheme has attracted considerable attention because of the rising cost of tertiary education and the wider economic pressure facing Nigerian families.
The cost of tuition, accommodation, transport, food, textbooks and other educational needs has increased in recent years, placing additional pressure on parents and students.
The monthly stipend component highlighted by Oyedele is therefore expected to provide additional support to students struggling to meet their daily expenses.
The minister said the government’s experience showed that students who applied successfully had received alerts confirming payments.
He also pointed to his personal experience supporting indigent students through a foundation, saying some beneficiaries continued to seek financial assistance from him even after he had directed them to apply for available government support.
“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.
Oyedele also disclosed that the level of uptake of NELFUND support was higher in the northern part of Nigeria than in the South.
“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.
The statement is likely to generate further discussion about the factors influencing participation in the student loan scheme across the country.
Differences in awareness, access to information, internet connectivity and attitudes towards government programmes could affect the number of applications received from different regions.
NELFUND has increasingly become an important part of the Federal Government’s effort to expand access to higher education.
The scheme is particularly significant for students from low-income households who may struggle to meet the rising cost of tertiary education.
However, the success of the programme will depend not only on the availability of funds but also on ensuring that students understand the eligibility requirements and application process.
The government will also need to maintain transparency in the distribution of funds and ensure that eligible students are not excluded because of limited access to information or difficulties with the application system.
Oyedele’s comments also place some responsibility on parents and students to confirm whether applications have been submitted and whether beneficiaries have received payments.
For parents who believe their children have not benefited, the minister’s advice is to ask for evidence of the application rather than rely solely on verbal assurances.
Students, on their part, are expected to provide accurate information when applying and monitor the status of their applications.
As the cost of education continues to rise, financial assistance programmes such as NELFUND are expected to remain important to families across the country.
The Federal Government has continued to promote the scheme as part of its wider effort to make education more accessible while reducing the immediate financial pressure on students and their families.
Oyedele’s comments therefore serve as a reminder that the availability of funding does not automatically guarantee that every eligible student will benefit.
Students must know about the program, apply correctly and provide the required information, while parents can assist them where necessary.
For families who remain unsure about whether their children have applied, the minister’s message is simple: check the application, demand evidence and, where necessary, assist the student to complete the process.