Student Loan Programme Takes Off in January 2024 – Tinubu

President Bola Tinubu, on Monday, stated that the implementation of the student loan initiative is set to begin in January 2024.

The President, addressing the audience at the National Economic Summit 2023 in Abuja, delivered assurances to Nigerian students, declaring that the era of frequent strikes would soon be history.

“In January 2024, we will launch the new student loan. For the future of our children and students, we are committed to ending strikes,” he emphasised.

To commemorate June 12, President Tinubu enacted the student loan bill, a commitment he had made during his campaign.

The bill, introduced by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, who now serves as the Chief of Staff to the President, aims to provide easy access to higher education for financially disadvantaged Nigerians through interest-free loans from the Nigerian Education Loan Fund.

Funds for the programme will be administered by the Ministry of Education and exclusively accessible to financially disadvantaged students in tertiary institutions.

This recent development on Monday followed Tinubu’s decision to rescind the ‘no-work, no pay policy’ imposed by the previous administration on members of the Academic Staff Union of Universities (ASUU).

University lecturers had initiated an eight-month strike to advocate for their demands, including improved funding for educational institutions.”