The Bola Tinubu-led Federal Government has indefinitely postponed the launch of the Student Loan Scheme, according to the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer.
Sawyer revealed this development during an interview on Arise News on Tuesday, March 12. He explained that the postponement was due to ongoing fine-tuning processes surrounding the scheme’s launch.
While Sawyer did not provide a new date for the launch, he emphasized the government’s commitment to ensuring all stakeholders are aligned before rolling out the scheme comprehensively and sustainably.
He stated: “This is a well-intended project, and President Bola Ahmed Tinubu is fully committed to its success. We are working diligently to facilitate its implementation as swiftly as possible.”
Sawyer’s announcement follows President Tinubu’s remarks in Minna, Niger State, on Monday, where he attributed the delay to ongoing adjustments and refinements to ensure the scheme’s effectiveness.
The Access to Higher Education Act, 2023, signed into law by President Tinubu on June 12, 2023, marked a significant milestone in providing interest-free loans for disadvantaged students in Nigerian tertiary institutions. Initially scheduled to commence in September and later postponed to January 2024, the scheme’s launch date was subsequently rescheduled for March 1, 2024, but has now been postponed indefinitely.
