Former nationwide President of the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA), Dele Oye, on Sunday referred to as for higher readability and accountability within the administration of the Nigerian Education Loan Fund (NELFUND).
Oye, who’s the Chairman of the Alliance for Economic Research and Ethics (AERE), in a commentary on the federal authorities’s 90-day financial motion plan, stated this adopted the introduced disbursement of N372.62 billion in institutional charges and scholar repairs allowances.
The previous Chairman Organised Private Sector of Nigeria (OPSN), stated the size of the disbursement underscored the necessity for clear service requirements, clear reporting and efficient complaint-resolution mechanisms to make sure that beneficiaries obtain the assist they want on time.
According to the NELFUND Student Loan Disbursement Report generated on October 3, 2026, he acknowledged that the fund had disbursed N372.62 billion as of September 29, 2026, whereas processing 1,659,853 purposes.
While acknowledging the significance of the scheme, Oye stated the quantity disbursed shouldn’t be handled as the only measure of its efficiency, stressing that the federal government should additionally show how effectively the programme serves college students.
He referred to as on NELFUND to publish service requirements masking utility selections, institutional funds and maintenance transfers, alongside aggregated information displaying approval and rejection charges and fee timelines.
He additionally advocated a real-time utility monitoring system that will permit college students to watch the progress of their purposes, in addition to a clear complaint-resolution channel with clear response and closure targets.
Oye stated the identical ideas ought to information family assist programmes, abilities financing and small-enterprise credit score, insisting that public help must be based mostly on verified information, delivered on to beneficiaries and reported via privacy-protected data.
According to him, publishing measurable outcomes would assist Nigerians assess whether or not authorities interventions are translating into tangible enhancements of their lives moderately than remaining as figures in official bulletins.
Oye urged NELFUND to publish service requirements for utility selections, institutional funds and maintenance transfers; present candidates a real-time standing path; publish aggregated approval, rejection and payment-time information; and function a visual complaint-resolution channel with response and closure targets
“Accessibility, timely payment, transparent eligibility and swift redress are not side notes. They are the bridge between a scheme on paper and a student who can actually plan a semester,” he defined.
On the National Economic Council (NEC) 90-day financial motion plan, Oye stated the initiative was a welcome recognition of the nation’s cost-of-living disaster however warned that its success would depend upon clear targets, outlined tasks and clear implementation.
The plan, endorsed by NEC on October 22, 2026, identifies 5 precedence areas: meals affordability, tax harmonisation, high-impact initiatives, funding bottlenecks and controlled family assist.
It additionally supplies for a nationwide dashboard to trace initiatives and fuel-subsidy proceeds, whereas the federal government has recognized decreasing headline inflation and rates of interest to single digits by 2027 as key coverage aims.
However, Oye famous that the announcement didn’t present a supply matrix, public baselines, named supply homeowners, itemised prices or milestone deadlines.
He argued that with out these particulars, Nigerians would battle to find out what the federal government intends to attain inside the 90-day interval or maintain the accountable establishments accountable for missed targets.
He referred to as for a public efficiency dashboard displaying baseline figures, targets, precise outcomes, accountable establishments and the following steps for every dedication.
The proposed dashboard, he stated, ought to observe meals costs, transport fares, street repairs, regulatory costs, scholar mortgage fee efficiency, accomplished initiatives and using subsidy-related proceeds.
Oye maintained that the success of the plan ought to finally be measured by enhancements in family welfare, together with extra inexpensive meals, decrease transport prices and higher situations for companies.
The AERE chairman additionally referred to as for an pressing evaluation of the a number of taxes, charges and levies imposed on companies by federal and state authorities, warning that overlapping costs and poorly justified regulatory prices might undermine enterprise development.
He urged federal and state regulators to publish their full charge and levy schedules inside 90 days, together with the authorized foundation for every cost, the businesses authorised to gather them and their annual assortment prices.
Oye proposed the institution of a public Regulatory Cost Register to establish costs that lack a transparent authorized foundation and charges whose assortment prices exceed the income they generate.
He stated such costs must be reviewed, whereas new levies ought to expire except they’re reauthorised based mostly on proof of public profit.
The goal, he defined, shouldn’t be to eradicate official taxation or obligatory regulation, however to take away pointless prices that place further stress on companies and customers.
Oye additionally advocated easier enterprise registration procedures, a free tax-identification course of, a single digital levy discover and an impartial channel via which companies might problem questionable costs.
He additional referred to as for coordinated, risk-based inspections, arguing that small companies shouldn’t be shut down with out written causes and a good alternative to hunt a evaluation.
He stated decreasing pointless regulatory burdens would assist companies function extra effectively, assist job creation and strengthen the formal financial system.
Oye urged the federal government to enrich tax harmonisation with stronger income accountability, together with the reconciliation of company remittances, publication of tax waivers and restoration of verified excellent money owed.
He maintained that the federal government ought to handle income leakages and public-sector waste earlier than demanding further sacrifices from residents already dealing with financial hardship.
“A 90-day plan cannot be a motivational speaker in a ministerial folder. It must tell Nigerians what will change, who will make it change, how much it will cost, and what happens if it does not,” he identified.
The AERE chief argued that each one information should be verified, delivered immediately and reported as aggregated, privacy-protected outcomes by state and ward, and never distributed as political theatre, stressing that Nigerians want dignity, not a queue within the solar with a digital camera on the finish of it.
“The same standard belongs in public works. Publish a Sunk Cost Register for abandoned projects: original contract sum, amount paid, physical completion, contractor, remedial path and completion date. Finishing a useful road is generally wiser than launching a new signboard beside an old ruin,” he maintained.
Emmanuel Addeh in Abuja
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