The Nigerian government has indefinitely suspended the launch of the Nigerian Students Loan Scheme, as announced by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, in an interview with Arise News on Tuesday.
This decision comes after President Bola Tinubu signed the Access to Higher Education Act, 2023 into law on June 12, 2023, aimed at providing interest-free loans to indigent students for their tertiary education. The bill, originally proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, was scheduled to commence between September and October 2023.
Despite multiple postponements, the launch was set to take place on Thursday, March 14, 2024, as announced by the Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale. However, just 48 hours prior to the scheduled launch, Sawyer disclosed that the scheme was postponed due to necessary corrections being made.
Sawyer explained, “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.”
