Tinubu Signs Student Loan Bill Into Law

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The Student Loan Bill has been approved by President Bola Tinubu.

One of Tinubu’s election campaign pledges was to provide student loans. He claimed at the time that this was done as part of his mission to advance youth development and the education sector.

Witnessing the signing were Femi Gbajabiamila, the president’s chief of staff, Dele Alake, a member of the president’s strategic team, Tunde Rahman, the president’s spokesperson, Abdulaziz Abdulaziz, another presidential spokesperson, and David Adejoh, the permanent secretary of the ministry of education.

The law, which was supported by Gbajabiamila, the Speaker of the 9th House of Representatives, provides that money will be housed at the Ministry of Education and that only needy students at academic institutions will have access to them.

The Nigerian Education Loan Fund offers interest-free loans to financially disadvantaged Nigerians, providing them with easy access to higher education.

On Monday, June 12, Mr. Dele Alake, a member of the Presidential Strategic Team, announced that the Student Loans Bill had been signed into law. Responding to concerns about potential inflation of school fees, Alake stated that the two issues are unrelated. He emphasized that the purpose of the law is to assist financially needy students in obtaining education within the country.

In his statement, Alake said, “We are pleased to announce that today, just a few minutes ago, President His Excellency, Bola Ahmed Tinubu, signed into law the Student Loans Bill. This bill, as you all know, signifies a significant development. It fulfills the promise made by then-candidate His Excellency, Bola Ahmed Tinubu, during the presidential campaign to prioritize the student loans issue.

Today, that promise has been fulfilled as he has officially signed the bill into law. This law will enable our financially disadvantaged students to access federal government loans to support their educational pursuits or careers, a practice commonly observed in developed countries worldwide.”

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