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HomeNewsTinubu’s Students Loan Postponed Indefinitely

Tinubu’s Students Loan Postponed Indefinitely

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The Federal Government has announced the indefinite postponement of the launching of the Nigerian Students Loan Scheme promised by President Bola Ahmed Tinubu.

Breaking the news, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer, spoke in an interview with ARISE NEWS.

Formally slated to take off tomorrow Thursday, the loan debut has been postponed again.

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According to Sawyer, there were corrections being made around its launching.

He said: “Unfortunately, I won’t be able to commit to a specific date.

“We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way.”

The President signed the students’ loan bill into law in June 2023.

The law established a Students Loan Fund (SLF) to provide interest-free loans to Nigerians seeking higher education.

In a Bill sponsored by the former Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, the loan was initially planned to take off by September-October 2023.

Thereafter, Tinubu announced the scheme would begin by January 2024.

In January, Yusuf Sununu, Minister of State for Education, confirmed at the Federal Executive Council (FEC) meeting, while speaking to reporters, that preparations were completed for the scheme to begin, including the finalisation of the Student Loan Scheme website and the conclusion of technical plans to facilitate the scheme’s kick-off.

President Tinubu assured the leaders of the National Association of Nigerian Students (NANS) when they visited him at the State House, Abuja, that the scheme would begin once its expansion to accommodate extra features including vocational studies was done.

 

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