In a move that promises to alleviate the financial burden on impoverished students nationwide, President Bola Tinubu has officially signed the Students Loan Bill into law. The legislation aims to facilitate accessible higher education for underprivileged Nigerians by providing interest-free loans through the Nigerian Education Loan Fund.
Mr. David Adejo Andrew, The Permanent Secretary, Ministry of Education, confirmed this momentous development in a disclosure to correspondents at the Presidential Villa. Stressing the significance of the newly enacted law, he highlighted its provision of interest-free loans for students.
Echoing these sentiments, the Federal Government spokesperson Mr. Dele Alake disclosed on Monday that the allocated funds will be administered by the Ministry of Education exclusively for financially disadvantaged students pursuing tertiary education. This information aligns with the bill’s provisions and serves as a vital lifeline for aspiring scholars seeking financial support.
The Students Loan Bill, initiated by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, successfully passed its third reading in the House two weeks ago. Today, with President Tinubu’s seal of approval, the legislation has officially become law, sparking optimism among struggling students throughout the country.
