President Bola Tinubu has fulfilled a key promise made during his campaign by signing the Student Loan Bill into law. The announcement was made on Monday by Mr. Dele Alake, the spokesperson for the Federal Government, who revealed that the funds would be held in the Ministry of Education and exclusively accessible to indigent students in tertiary institutions.
Sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, the student loan bill, which aims to provide interest-free loans to financially disadvantaged Nigerian students, successfully passed its third reading in the House two weeks ago.
The newly enacted law aims to facilitate easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund. By addressing the financial barriers faced by students from low-income backgrounds, this legislation aims to level the playing field and create equal educational opportunities for all.
I was pleased, today, to have signed into law, the Access to Higher Education Act which provides interest-free loans to deserving students across the country who wish to further their education in tertiary institutions.
With this Act we shall ensure that every deserving student… pic.twitter.com/ptRLCDOZMU
— Bola Ahmed Tinubu (@officialABAT) June 12, 2023President Bola Ahmed Tinubu (GCFR) a few minutes ago signed into law, The student loan bill, which provides for interest-free loans to indigent Nigerian students. pic.twitter.com/f8EYr95wCN
— Daddy D.O?? (@DOlusegun) June 12, 2023