Home Education Tinubu to inaugurate Student loan scheme on Thursday
EducationNews

Tinubu to inaugurate Student loan scheme on Thursday

492
Tinubu Student Loan

President Bola Tinubu is poised to inaugurate the National Student Loan Programme on Thursday, March 14, 2024. This was made known by the Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale, during TVC’s Politics on Sunday program.

Ngelale underscored the significance of this initiative, stating, “This is a major form of obligation reduction for Nigerians, families, and young people at a time when Nigerians are feeling the pinch. We believe this is the way to go.”

Recall that the groundwork for the program was laid when President Tinubu signed the Access to Higher Education Act, 2023, on June 12, 2023. This act provides interest-free loans to needy students pursuing tertiary education in Nigerian institutions. 

However, the program’s implementation has faced delays, with initial plans for September and January failing to materialise. President Tinubu’s 2024 budget included a proposed allocation of N50 billion for the scheme’s launch.

Dr. Akintunde Sawyerr, the Executive Secretary of the Nigeria Education Loan Fund (NELFUND), had confirmed that the program was scheduled to commence on February 21 but did not materialise. 

The launch was reportedly postponed to accommodate the President’s directive to extend loans to students interested in skill-development programs, expanding the scheme’s scope beyond traditional academia.

Sawyerr explained the delay, stating, “The delay in take-off enabled the agency to put all necessary measures in place as the scheme is entirely technologically driven.”

About The Author

Related Articles

NewsSports

Remo Stars Clinch First League Title in 15 Years

Remo Stars have won their first-ever Nigeria Premier Football League (NPFL) title...

Port of Lomé Growth 2024
NewsTravel

Togo: Port of Lomé Records Modest Growth in 2024 Amid Regional Competition, Strengthens Position as West Africa’s Trade Hub

The Port of Lomé, Togo’s principal maritime gateway, reported a modest growth...

Niger Turkish Aksungur Drones
NewsSecurity

Niger Acquires Advanced Turkish Aksungur Drones to Improve Aerial Surveillance, Strike Capabilities

The Nigerien Armed Forces (FAN) has acquired Turkish-made Aksungur drones to enhance...

NewsPolitics

Tinubu Plots to Fracture Northern Unity, Sow Ethno-religious Resentments, Forge Kwankwaso Alliance Ahead of 2027 Elections – Umar Sani

Emerging intelligence suggests President Bola Tinubu is formulating strategies to dismantle northern...