Tinubu Signs Amended Student Loan Bill, Aims to Boost Higher Education Access
President Bola Tinubu signed the National Students Loan Amendment bill into law on Wednesday, in a move aimed at improving access to higher education. The new legislation repeals the previous Students Loans (Access to Higher Education) Act of 2023 and re-enacts the Student Loans (Access to Higher Education) Bill from 2004.
The President signed the bill in a short ceremony at the State House, with key officials present including the 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, Minister of State for Youth, Ayodele Olawande, and the president of the National Association of Nigerian Students, among others.
The original student loan bill was signed by Tinubu back in June 2023, with the aim of providing financial assistance to Nigerian students in tertiary institutions. However, its implementation had faced delays due to various issues hindering its rollout.
Speaking after the signing ceremony, President Tinubu expressed gratitude to the National Assembly for their prompt handling of the bill, emphasizing the importance of education in combating poverty. He reiterated the government’s commitment to ensuring that education receives the necessary attention, including skills development programs, to ensure that every Nigerian, regardless of their background, has access to quality education and the opportunity to build their future.
The President highlighted the significance of the bill, noting that it would help prevent students from dropping out of college due to financial constraints. He emphasized that the application process for the student loan is open to all Nigerian citizens, regardless of their background.
This development follows separate considerations from the two chambers of the National Assembly committees on tertiary institutions and TETFund, highlighting a concerted effort to address the challenges facing the education sector in Nigeria.
