Students Loan Not Forgotten, New Launch Date To Be Announced Soon-Presidency

The Presidency has explained that the Students Loan Scheme has not been forgotten by the government and the new date of the launch will be announced soon.

The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed this while fielding questions from State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Tinubu at the Council Chamber, Presidential Villa, Abuja.

Recall that the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, had announced the indefinite postponement of the scheme during an interview with ARISE News on Tuesday.

This was after the Special Adviser to the President on Media and The Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale disclosed that President Bola Tinubu will launch the Student Loan Scheme on Thursday, March 14, 2024.

Onanuga, however, assured that President Bola Tinubu is fully committed to the loan scheme as it would guarantee that indigent students did not drop out of school due to lack of money.

He stated that final touches are being put in place to enable proper launch of the scheme, which he described as the President’s flagship programme.

“There’ll 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’s one of his flagship programmes, and he wants to get it done as quickly as possible,” he said.

The Minister of Information and National Orientation, Mohammed Idris on his part, said: “In addition to that, you know that the President has also introduced the issue of social security and consumer credit. We mentioned that in the last press briefing we had.

“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.”

President Bola Tinubu, on June 12, 2023, signed the Access to Higher Education Act, 2023, into law to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.