The Federal Government has inaugurated a committee to harmonise fee structures and standardise the payment processes across Nigerian tertiary institutions.
This initiative, announced by Minister of Education Dr. Tunji Alausa on Wednesday in Abuja, seeks to enhance coordination between universities and the Nigerian Education Loan Fund, NELFUND, while ensuring efficient and transparent disbursement of student loans.
At a meeting with vice-chancellors and NELFUND executives, Dr. Alausa emphasised that while funding to universities has been prompt, there remains a need to improve how quickly funds are disbursed and how students are notified.
He dismissed recent speculation of fraud within NELFUND, stating that “the current system works, but we are aiming to make it even better to align with the administration’s broader agenda.”
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The new committee, made up of representatives from NELFUND, the Federal Ministry of Education, the National Universities Commission, and key university officials, has been tasked with standardising the terminology used for student fees across all universities. While actual fee amounts may differ by institution, the uniform nomenclature will ensure better clarity and accountability.
Dr. Alausa noted that discrepancies between fees charged and amounts refunded by NELFUND often arise from undocumented service charges by institutions. “Henceforth, universities must clearly disclose all service charges upfront to eliminate confusion,” he added.
The committee is also responsible for establishing fixed timelines for NELFUND disbursements and university notifications to students. This framework will help eliminate delays and ensure that funds reach students when needed.
According to the minister, the federal government remains committed to a student-centered approach in education financing, with transparency and accountability as key priorities.
TheEagleOnline
