BREAKING: Tinubu Signs Students Loan Bill

President Bola Ahmed Tinubu (GCFR) has signed into law, The Student Loan Bill, which provides for interest-free loans to indigent Nigerian students.

Recall that Tinubu, during his campaign, had promised to give student loans as part of efforts to develop the education sector and also build the youth capacity.

Tinubu made the promise at the British Royal Institute in London.

“Youths are the greatest asset of tomorrow,” Tinubu said in Chatham House while fielding questions from participants at the event.

ALSO READ: Cleric, Akpokiniovo Takes Baby To Church

“The education system is to change. We would overhaul it and tinker with some areas with the philosophy that no one would be left behind. There will be student loans for all. We are going to reform the Almajiri system, We are equally going to build more schools, recruit more teachers and train them,” the former Lagos state governor said.

To further help young people, he said if elected, his government would equally introduce technology hubs where youths can acquire digital skills to better develop their leadership skills.

“Youths can even develop technological languages on their own and make a better 21st-century approach to governance in Nigeria,” he said.

More on the Students Loan Bill

The ‘Students Loan (Access to Higher Education) Bill, 2019, a.k.a a Bill for an Act to provide for easy access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act.

The bill seeks to make access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act with a view to providing education for all Nigerians and for other purposes connected thereto.

The Bill (now law) seeks the establishment of the Nigerian Education Fund, domiciled with the Central Bank of Nigeria (CBN) from which qualified applicants can access education loans through the commercial banks in the country.

The Act provides that notwithstanding anything to the contrary contained in other enactments, all students seeking higher education in any public institution of higher learning in Nigeria shall have an equal right to access the loan under this Act without any discrimination arising from gender, religion, tribe, position or disability of any kind.

The loan referred to in this Act shall be granted to students only for the payment of Tuition fees. The grant of the loan to any student under this Act shall be subject to the students/applicant(s) satisfying the requirements and conditions set out under this Act.”

In keeping to his campaign promise, interest and quest in ensuring access to higher education, President Bola Ahmed Tinubu signed the legislation that will guarantee access to quality higher education by qualified Nigerians.