President Bola Tinubu on Wednesday signed the student loans
re-enactment bill into law.
The signing of the bill by the president came after the
announcement of a temporary suspension of the commencement of the student loan
scheme.
The law will allow Nigerian students in tertiary
institutions to access low-interest loans for tuition and other academic needs.
Signing the bill at the State House, Abuja, the president
said no one would be excluded from quality education and opportunity to build
their future regardless of their background.
The executive bill is 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 to Establish the Nigerian
Education Loan Fund as a body corporate to receive, manage and invest funds to
provide loans to Nigerians for higher education, vocational training and skills
acquisition and for related matters was signed at the State House in the
Presence of the leadership of the National Assembly, Ministers and Major
Stakeholders of Education”.
“I have just signed a bill proclaiming the student loan
effectively. 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,” Tinubu said.
“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.”
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