Student Loan Scheme Not Suspended Indefinitely, Tinubu Committed To It — Presidency

Student loan

The presidency says President Bola Ahmed Tinubu is committed to getting the student loan scheme launched properly.

Bayo Onanuga, Special Adviser to the President on Information and Strategy , disclosed this to journalists on Wednesday at the end of the Federal Executive Council (FEC) meeting held at the State House in Abuja.

Recall that Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELF), told Arise Television on Tuesday that the body would not be able to commit to a specific launch date for now.

Sawyer said the Federal Government is still making adjustments to the student loan policy.

The plan to start the programme between September and October 2023 was not successful.

New launch dates in January, February, and subsequently March did not materialise.

However, Onanuga said final touches are being put into the scheme to enable a proper launch, noting that a new date would be announced soon.

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“There will be a new date to launch the student loan scheme, it’s not forgotten.

“There are some things that need to be rearranged so that it can be launched properly. I think that’s what’s happening.

“So the president is committed to it, you know it is one of his flagship programmes and he wants to get it done as quickly as possible,” he said.

On his part, Mohammed Idris, Minister of Information and National Orientation, added that the issue of social security and consumer credit (new measures introduced by Tinubu) also played a role in the revision of the dates.

“So all these are being taken together and Mr. President is not stopping or suspending the students’ loan.

“Indeed, he’s ensuring that it comes about strongly so that Nigerians and especially the families of the less privileged, take advantage of that so that they can get education,” Idris said.

The scheme is designed to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.