President Bola Tinubu has announced a new date for the implementation of the Access to Higher Education Act, otherwise known as the Students Loan Law.
In November 2022, the legislation, which seeks to provide financial assistance to Nigerian students in tertiary institutions, was passed by the national assembly, DAILY GIST reports.
The bill was sponsored by Femi Gbajabiamila, immediate-past speaker of the house of representatives.
Since signing the bill into law in June, many Nigerians have criticised its introduction, describing it as a ground for the introduction of tuition fees in the nation’s tertiary institutions.
Meanwhile, despite the opposition to its implementation, the Permanent Secretary at the Ministry of Education, Andrew Adejoh, revealed at the time that the implementation would commence in September.
The implementation has, however, not kicked off as announced by Mr Adejoh.
But speaking at the 29th National Economic Summit on Monday, Tinubu said the loan programme will now commence in January 2024.
The president said said the students loan will end the era of industrial actions in the nation’s academic environment.
The president spoke on his administration’s plans to stabilise the economy, with the collaboration of all stakeholders, especially the private sector.
He stressed the need to immediately initiate a sustainable credit scheme that would aid an effective anti-corruption campaign
By January 2024, the new Students Loan Programme must commence. To the future of our children and students we’re saying no more strikes.
“There must be consumer credit, scheme will have to come to effect as soon as possible. I thank my team and my colleagues to build this programme, develop it now. We cannot talk about anti-corruption when you have to look for cash to buy a car, when there’s no mortgage for homeownership,” he said.
