President Bola Tinubu has officially signed the student loans re-enactment bill into law, emphasizing the government’s commitment to ensuring access to quality education for all Nigerian students, regardless of their background.
The bill, 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, 2004,” establishes the Nigerian Education Loan Fund as a body corporate.
It aims to provide low-interest loans to Nigerian students in tertiary institutions for tuition and other academic needs.
The signing of the bill by President Tinubu took place at the State House, Abuja, in the presence of the leadership of the National Assembly, ministers, and major stakeholders in education.
In his remarks during the signing ceremony, President Tinubu expressed gratitude to the National Assembly for their swift handling of the bill, highlighting education as a crucial tool in the fight against poverty.
“We are determined to ensure that education is given the proper attention necessary for the country, including skills development programs,” President Tinubu stated.
“This is to ensure that no one, no matter how poor their background is, is excluded from quality education and the opportunity to build their future.”
President Tinubu emphasized the importance of the student loan scheme in addressing the issue of students dropping out of college due to financial constraints.
He assured Nigerians that the government has put in place measures to streamline the application process, making it accessible to all Nigerian citizens.
“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,” President Tinubu affirmed.
“The standard and the control are there for you to apply, no matter who you are, as long as you are a Nigerian citizen.”
