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The Nigerian Students Loan Scheme launch, slated to take place soon, has been indefinitely postponed by the Federal Government.
The announcement was made by Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, during an interview with ARISE NEWS on Tuesday.
The initiative originated in June 2023 when President Bola Tinubu signed a bill aimed at establishing a Students Loan Fund.
The fund was designed to provide interest-free loans to Nigerian students pursuing higher education.
The bill, initially proposed by former Speaker of the House of Representatives Femi Gbajabiamila, was originally intended to commence between September and October 2023.
Despite the October deadline passing, President Tinubu assured that the program would kick off in January 2024.
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In January, Minister of State for Education Yusuf Sununu confirmed the completion of preparations for the program, including the creation of the Student Loan Scheme website and detailed plans for its implementation.
President Tinubu later informed leaders of the National Association of Nigerian Students that additional features, such as vocational studies, would be incorporated before the program’s launch.
However, a mere 48 hours before the scheduled launch, Executive Secretary Sawyer cited the postponement, citing the need for corrections and alignment among stakeholders.
Sawyer stated, “Unfortunately, I won’t be able to commit to a specific date. We are waiting to ensure that all stakeholders are aligned, preventing any blindsiding, so we can roll out this program in a comprehensive, meaningful, and sustainable manner.”
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