Tinubu to launch students loan scheme Thursday
President Bola Tinubu is scheduled to inaugurate the Student Loan Scheme on Thursday, March 14, 2024.
This was disclosed by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale during an appearance on TVC’s Politics on Sunday, as reported by PUNCH Online.
Ngelale highlighted some of the President’s ongoing welfare initiatives, stating, “Later this week, on Thursday, the President will launch the historic National Student Loan Programme.”
The initiative stems from Tinubu’s signing of the Access to Higher Education Act, 2023, into law on June 12, 2023. The scheme aimed at providing interest-free loans to indigent students pursuing education in Nigerian tertiary institutions.
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Initially planned for September implementation, the scheme faced delays but is now set to commence in January 2024 with an allocated budget of N50 billion proposed by Tinubu.
The launch, originally slated for February 21, was postponed to incorporate skill development loans following the President’s directive to expand the scheme’s mandate.
Dr. Akintunde Sawyerr, Executive Secretary of the Nigeria Education Loan Fund, confirmed the delay, citing the need to perfect the backend systems for the entirely technologically driven scheme.
The initiative underscores President Tinubu’s commitment to providing opportunities for all Nigerian youths, recognising the importance of skill acquisition alongside traditional academic pursuits.
