In an announcement by Mr. Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, it has been revealed that President Bola Tinubu will inaugurate the Student Loan Scheme on Thursday, March 14, 2024.
This initiative follows President Tinubu’s signing of the Access to Higher Education Act, 2023 into law on June 12, 2023. The act aims to facilitate access to interest-free loans for financially disadvantaged students pursuing higher education in Nigerian tertiary institutions.
Included in the details of the 2024 budget appropriation is a provision of N50 billion by the Federal Government for the implementation of the student loan scheme.
President Tinubu had previously pledged that the loan program would commence in January, emphasizing a commitment to resolving issues in the education sector and ensuring a more sustainable funding model for tertiary education.
During an appearance on TVC’s Politics on Sunday, Ngelale confirmed that the long-awaited scheme, originally slated for January, would finally kick off on Thursday.
“Later this week, on Thursday, the President will inaugurate the historic National Student Loan Programme,” he announced.
