The Nigerian Education Loan Fund’s Executive Secretary, Akintunde Sawyer, revealed in an interview with ARISE NEWS on Tuesday that the Federal Government has indefinitely postponed the launch of the Nigerian Students Loan Scheme.
President Bola Tinubu had signed a bill in June 2023 to establish the Students Loan Fund, aimed at providing interest-free loans for higher education. Originally scheduled to commence between September and October 2023, the program faced delays.
Despite reassurances from President Tinubu that the initiative would kick off in January 2024 after missing the October deadline, preparations remained incomplete. Minister of State for Education, Yusuf Sununu, confirmed in January that all preparations were finalized, including the development of the Student Loan Scheme website and operational plans.
However, further delays were encountered, with President Tinubu indicating that additional features, such as vocational studies, needed incorporation before the program’s launch. The postponement has left many aspiring Nigerian students awaiting further updates on the scheme’s implementation.
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