President Bola Tinubu is set to inaugurate the National Student Loan Programme on Thursday, March 14, 2024, as revealed by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale, during an interview on the TVC programme, ‘Counting the Cost of President Tinubu’s Reforms,’ on Sunday, March 10, 2024.
Ngelale shared insights into the President’s welfare initiatives, highlighting the upcoming launch of the historic National Student Loan Programme. He emphasized that this initiative aims to significantly reduce financial burdens for Nigerians, families, and young individuals, especially during challenging times. Ngelale expressed confidence that this program is a positive step forward.
This announcement follows nine months after President Tinubu signed the Access to Higher Education Act, 2023, which allows indigent students access to interest-free loans for their education in any Nigerian tertiary institution. Commonly known as the Students Loan Law, this Act also established the Nigerian Education Loan Fund, responsible for managing loan requests, grants, disbursement, and recovery.
Despite previous announcements of kickoff dates, the scheme had not been implemented. However, President Tinubu’s commitment to its success remained evident. He had promised Nigerians in October 2023 that the Student Loan Programme would commence in January 2024, emphasizing the importance of stable education without interruptions.
Despite a failed attempt on February 21, as initially announced by the Executive Secretary of the Nigeria Education Loan Fund, Dr. Akintunde Sawyerr, the Student Loan Programme is now scheduled for launch on March 14, 2024, at the State House in Abuja.
