President Bola Tinubu has again signed the National Students Loan Amendment bill into law during a state assembly yesterday.
In June 2023, Tinubu had initially signed the student loan bill into law to provide financial assistance to Nigerian students in tertiary institutions.
Despite being signed earlier, various issues affected its implementation which then caused it to not have materialised.
However, the amendment of the bill came after separate considerations from the two chambers of the National Assembly committees on tertiary institutions and TETFund.
After the signing of the bill, the president expressed gratitude to the National Assembly, stating:
“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.”
Similarly, the president emphasized his determination to ensure education receives the necessary attention, including skills development programs, to ensure inclusivity and opportunities for all Nigerian citizens.
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Reflecting on the significance, he added, “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 are there for you to apply, no matter who you are, as long as you are a Nigerian citizen.”
The bill is called: ‘A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004‘
The bill aims to establish the Nigerian Education Loan Fund as a corporate body to receive, manage and invest funds, providing loans to Nigerians for higher education, vocational training, and skills acquisition and other related matters.
The president signed the bill in the presence of Senate President Godswill Akpabio, Deputy President of the Senate Barau Jibrin, Chief of Staff to the President Femi Gbajabiamila, Minister and Minister of State for Education Hannatu Musawa.
Others in attendance were: Minister of State for Youth Ayodele Olawande, the president of the National Association of Nigerian Students, and other government officials.
