NELFUND Uptake Higher In North Than South — Oyedele

The Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the uptake of the Nigerian Education Loan Fund (NELFUND) is higher in the northern part of the country because students there have shown greater willingness to trust government initiatives.

Oyedele stated this on Wednesday in Abuja while presenting the Federal Government’s Nigeria Reform Scorecard, highlighting the impact of ongoing reforms across various sectors.

He said NELFUND had provided significant relief to students, noting that beneficiaries were not only having their tuition fees covered but were also receiving monthly stipends under the interest-free student loan scheme.

“If there’s anything anyone can attest to, it is this NELFUND. We’ve seen videos of students randomly rejoicing because it’s not only the tuition that was being paid, they get monthly stipend, interest-free,” Oyedele said.

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According to him, the benefits of the scheme are particularly significant in the current high-inflation environment, effectively making the financial support similar to a grant for beneficiaries.

“In a high inflation environment, it’s like grant,” he added.

Oyedele said the scheme had recorded higher uptake in the North compared with the South, attributing the disparity partly to differences in public perception of government programmes.

“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.