The Federal Government has postponed the launch of the Nigerian Students Loan Scheme indefinitely.
This was revealed on Tuesday in an interview with ARISE NEWS by Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund.
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A bill creating a Students Loan Fund, which would provide interest-free loans to Nigerians for higher education, was signed into law by President Bola Tinubu in June 2023. The measure was sponsored by Femi Gbajabiamila, a former Speaker of the House of Representatives, and it was scheduled to begin in September or October of 2023. Meanwhile, Tinubu said the programme would begin in January 2024, after missing the October deadline.
Yusuf Sununu, the state minister of education, declared during a meeting in January that the program’s preparations were complete. This involved organizing the launch of the program and creating the website for the Student Loan Scheme.
Additionally, Tinubu informed National Association of Nigerian Students officials that the program will begin as soon as other components, such as vocational courses, were introduced.
However, Mr Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund stated that the loan program was delayed because of certain adjustments being made in relation to the launch, only 48 hours before it was scheduled to debut.
“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,” he said.
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