Nigerian students in institutions of higher learning can now access low interest loans to cover their academic fees.
Nigerian President Bola Tinubu, who signed the student loans re-enactment bill into law on Wednesday in Abuja, affirmed the government’s commitment to facilitating access to education for Nigerian students.
Speaking at a brief ceremony, Tinubu said that quality education should be accessible to all, regardless of their background, ensuring that no one is excluded from the opportunity to build their future.
“I have just signed a bill proclaiming the student loan effectively. First of all, I must thank members of the National Assembly for their expeditious handling of this bill considering the children of Nigeria, that education is the tool to fight against poverty effectively,” Tinubu said.
“We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes.
“This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.
“We are here because we are all educated and were helped. In the past, we have seen a lot of our children drop out of college and give up the opportunity.
“That is no more, the standard and the control is there for you to apply no matter who you are as long as you are a Nigerian citizen,” he said.
According to the Nigerian leader, the move signals a significant step towards addressing financial barriers to education and empowering students to pursue their academic aspirations.
The loan will be administered by the Nigerian Education Loan Fund, which is a body corporate to receive, manage and invest funds to provide loans to Nigerians for higher education, vocational training and skills acquisition and for related matters.
GIK/APA
GIK/APA
Nigerians in tertiary institutions to access low interest loans
