Hope as FG Speaks Again, Reveals Date Loan for Nigerian Students Will Take Off

Hope as FG Speaks Again, Reveals Date Loan for Nigerian Students Will Take Off

  • President Bola Tinubu in October disclosed that his administration’s Student Loan Scheme will commence in January 2024
  • Speaking on national television on Thursday, December 7, Yusuf Tanko Sununu, the minister of state for education, reaffirmed his principal's promise
  • Legit.ng reports that the student loan would offer financial support for students across the 36 states of the federation and the FCT

Legit.ng journalist Ridwan Adeola Yusuf has over 6-year-experience covering basic and tertiary education in Nigeria and worldwide

FCT, Abuja - Yusuf Tanko Sununu, the minister of state for education, has said the Student Loan Scheme is on track to commence in January 2024.

Legit.ng recalls that President Bola Ahmed Tinubu approved the initiative in June.

Student loan/Students loan/Students loan Nigeria
Student loans offer financial support for students. Photo credit: @NANSNIG
Source: Twitter

Student loan scheme to begin Jan 2024

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Sununu reiterated the All Progressives Congress (APC-led) administration's commitment during an appearance on Arise TV on Thursday, December 7.

The minister said:

“I want to tell you that we are on track (to begin in January 2024). The committee is working day in and day out.
“The whole thing is going to be online, not through physical access. A website that will make for easy access is being developed.”

Sununu added:

“We want trust in governance and trust must have a timeline. So it may take from January 1st to January 31st, but as much as possible, we will ensure that by the 31st of January, students can access it.”

Tinubu on student loan programme

Legit.ng reported that President Bola Ahmed Tinubu declared that the student loan programme he signed into law earlier in the year will commence full operation in January 2024.

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Tinubu stated this in Abuja on Monday, October 23, at the 29th Nigeria Economic Summit organised by the Nigerian Economic Summit Group (NESG) in partnership with the Federal Ministry of Budget and Economic Planning.

Economist on student loan scheme

Legit.ng also reported that an economist, Paul Alaje, said the budget for education and the N50 billion earmarked for the student loan scheme does not meet the UNESCO benchmark of a minimum of 15 to 26 per cent.

In a chat with Legit.ng, Alaje hailed President Tinubu for the hundred per cent increase in education compared to the previous budget in 2023.

FG places embargo on tuition fees

In another related news, Legit.ng reported that the federal government issued a fresh directive to federal universities across the 36 states urging them not to charge students tuition fees.

This directive was made known by the permanent secretary of the ministry of education, David Adejo, on Tuesday, August 15, at the House of Representatives ad hoc committee on student loans.

Source: Legit.ng

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