"Parents Beware: Your Kids May Be Secretly Benefiting from NELFUND!", Oyedele

The Nigerian Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has raised eyebrows by suggesting that some students might be receiving funds from the Nigerian Education Loan Fund (NELFUND) without their parents' knowledge. 

During a media briefing in Abuja, a journalist voiced concerns that his three children in school had not received any NELFUND assistance. In response, Oyedele urged the journalist to question his children about their potential applications for the financial scheme. “It’s possible they’ve collected the money and are just not telling you,” he said.

The minister emphasized the necessity of open communication between parents and children, urging them to seek honesty.

 “You need to ask your children to be honest with you,” he stated, suggesting that the journalist assist his kids in applying if they hadn’t already done so.

Oyedele underscored that NELFUND provides more than just tuition support; it includes monthly stipends that are interest-free. 

He pointed out videos of students celebrating after receiving their funding, highlighting the scheme's broader impact in a high-inflation environment.

Students can access up to N1.5 million through NELFUND, and Oyedele encouraged parents who are uncertain about the process to help their children apply. “If you can’t find the link, come to the Ministry of Finance. We will help you,” he said.

Notably, the uptake of NELFUND support has been higher in Northern Nigeria compared to the South. Oyedele remarked, 

“We spend all our energy here doubting everything that government does,” indicating a regional disparity in trust towards government initiatives.

He also shared anecdotes from his personal foundation, where he witnessed students receiving alerts after applying for the scheme.

 “Many of them were still coming to me after I said go and apply. They said we got alerts,” he recalled.

In light of this, parents are encouraged to engage more proactively with their children about educational funding options. 

With the NELFUND initiative aiming to alleviate financial burdens, the onus is now on families to ensure they are not missing out on available support.

As discussions around educational funding continue, Oyedele's remarks serve as a reminder for parents to stay informed and involved in their children’s financial dealings, particularly in these challenging economic times.