President Bola Ahmed Tinubu has signed into law the long-awaited Students Loans Bill, fulfilling a commitment he made in the face of inflation and introduction of higher fees in tertiary institutions.
Tinubu conducted the signing ceremony at the State House in the presence of Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abass, and Chief of Staff to the President, Femi Gbajabiamila.
Also present were: Deputy President of the Senate, Barau Jibrin, the Minister and Minister of State for Education, Hannatu Musawa, the Minister of State for Youth, Ayodele Olawande, the President of the National Association of Nigerian Students (NANS), Minister of Mines, Dele Alake, and others.
Titled “A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill,” the new legislation repeals the previous “Students Loans (Access to Higher Education) Act of 2023.”
Additionally, it re-enacts the “Student Loans (Access to Higher Education) Bill from 2004.”
Tinubu initially signed the student loan bill into law in June 2023, to offer financial assistance to Nigerian students in tertiary institutions.
He said, “First of all, I must thank members of the National Assembly for their expeditious handling of this bill considering the children of Nigeria, that education is the tool to fight against poverty effectively.
“We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes. This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.
“We are here because we are all educated and were helped. In the past, we have seen a lot of our children drop out of college and give up the opportunity. That is no more, the standard and the control is there for you to apply no matter who you are as long as you are a Nigerian citizen.”
