Finance Minister: Some Students May Be Receiving NELFUND Support Without Parents’ Knowledge

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has raised the possibility that some students are benefiting from the Nigerian Education Loan Fund (NELFUND) without informing their parents.

The minister made the comment at a media briefing in Abuja on Wednesday, responding to a journalist who said none of his three children in school had received NELFUND support and that they didn’t know of any classmates who had either. Oyedele suggested the children may not be telling their father the full story, and advised him to ask them directly whether they had applied and to request proof of any application submitted.

He referenced footage circulating online showing students celebrating after receiving support, pointing out that the scheme goes beyond tuition coverage to include an interest-free monthly stipend  a meaningful benefit, he noted, given the current high inflation environment. According to Oyedele, eligible students can access up to N1.5 million through the programme.

The minister urged parents unsure about the process to help their children apply, either through the NELFUND website or by visiting the Ministry of Finance directly for assistance. He also noted a regional disparity in uptake, saying more applicants have come from northern Nigeria than the south, which he attributed to greater public skepticism toward government programmes in the south.

Drawing on his experience running a personal foundation that supports underprivileged students, Oyedele said some beneficiaries kept approaching him for help even after he had pointed them toward the loan scheme  only to later confirm, once he sent them the application link, that they had successfully received confirmation alerts.