The senate yesterday began procedures to set up a scheme that will grant less privileged youths interest free loans to finance their studies.
The move was made when the House passed for a second reading, a “Bill for an Act to provide easy access to higher education for Nigerians through Interest-free Loan with a view to providing education for all Nigerians and other purposes connected thereto.”
Making a passionate plea for the support of the bill while leading debate on its general principles, the minority leader, Hon. Femi Gbajabaiamila (ACN) Lagos said “the younger generation will ask what Nigeria has done for it,” if nothing is done to help them achieve their goals, hence the need to invest in the future of the country by increasing more access for to higher education.”
Contributing to the merits of the bill, Hon. Nnenna Ukeje (PDP) Abia, opined that education is worth more than money as empowerment was more than “dashing out motorcycles to youths.”
If the bill is passed into law, it will amongst other things, give indigent students interest free loans and make those loans payable three years after the mandatory National Youth Service Corps (NYSC).
Regarding the funds meant to service the loan, Hon Fort Dike (PDP) Anambra, said members should look towards the consolidated revenue fund and “identify areas that were important to the bill so as to design a framework for servicing such loan.”
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