Student Loan: Tinubu's Govt Plans Pilot Scheme, Lists Target Institutions

Student Loan: Tinubu's Govt Plans Pilot Scheme, Lists Target Institutions

  • The spokesperson of the Nigerian Education Loan Fund, Nasir Ayitogo, said the agency would begin a pilot phase of the student loan scheme
  • Ayitogo said the pilot phase would target students of federal and state universities, polytechnics and colleges of education
  • He added that President Bola Tinubu is expected to appoint a chairperson, a managing director and two Executive Directors for the agency

Legit.ng journalist Adekunle Dada has over 5 years of experience covering basic and tertiary education in Nigeria and worldwide

FCT, Abuja - President Bola Ahmed Tinubu-led federal government has disclosed its plan to commence a pilot phase of the newly-signed student loan scheme.

The spokesperson of the Nigerian Education Loan Fund, Nasir Ayitogo, said the pilot scheme would target students from public tertiary institutions.

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Federal govt plans pilot scheme for student loan
Tinubu's govt said the pilot scheme will target students from public tertiary institutions Photo credit: @officialABAT
Source: Facebook

Institutions to benefit from student loan scheme

As reported by The Punch, Ayitogo said the public institutions include federal and state universities, polytechnics and colleges of education.

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He stated this while speaking on the number of public institutions to enjoy the pilot scheme on Wednesday, April 3

Ayitogo said:

“For the pilot scheme, it is just for public institutions.”

He added:

“The target for this phase of the loan are students of federal and state universities, federal and state polytechnics and federal and state colleges of education. Whoever desires the loan will apply.
“When you need the loan, apply and you will get it if you meet the requirements.”

He further stated that according to the provisions of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, Tinubu is expected to appoint a chairperson, a Managing Director and two Executive Directors as part of its executive management team.

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Tinubu's student loan scheme: Juicy facts about new law

Ayitogo said Tinubu was expected to launch the Students Loan scheme after appointing qualified persons into the offices.

The Act partially read:

“The newly-signed piece of legislation allows for the appointment of a Chairperson of the fund, a Managing Director and two Executive Directors of Finance and Operations each to “assist the Managing Director in performing his duties.”
The appointees “shall hold office for five years.”

No Nigerian will be excluded from student loan

According to TheCable, Tinubu while signing the bill said no Nigerian would be excluded from quality education and opportunity to build their future regardless of their background.

Facts about Tinubu's student loan scheme

Legit.ng earlier reported that the Act also established the Nigerian Education Loan Fund, which is expected to handle all student loan requests, grants, disbursement, and recovery.

After signing the bill into law in the presence of the leadership of the National Assembly, ministers and major stakeholders in the education sector, Tinubu noted that no Nigerian, regardless of their background, will be excluded from obtaining quality education.

Source: Legit.ng

Authors:
Adekunle Dada avatar

Adekunle Dada (Politics and Current Affairs Editor) Adekunle Dada is a journalist with over 5 years of working experience in the media. He has worked with PM News, The Sun and Within Nigeria before joining Legit.ng as a Politics/Current Affairs Editor. He holds a B.Sc. in Mass Communication from Lagos State University (LASU). He can be reached via adekunle.dada@corp.legit.ng.

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