Just In: President Ahmed Bola Tinubu Signs The student Loan Bill Into Law.

 

President Bola Tinubu has signed the Student Loan Bill into law.

An aide to the president, Dele Alake, disclosed this to State House Correspondents on Monday evening, June 12. ⁣The bill, which will enable Nigerian students to access loans at interest-free rates, passed second reading at the House of Representatives on May 25, 2023.

the 'Students Loan (Access to Higher Education) Bill, 2019, a.k.a a Bill for an Act to provide for easy access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act sponsored by Rt Hon @femigbaja in 2019.

The bill seeks to make access to higher education for Nigerians through interest-free loans from the Nigerian Education Fund established in this Act with a view to providing education for all Nigerians and for other purposes connected thereto.

The Bill (now law) seeks the establishment of the Nigerian Education Fund, domiciled with the Central Bank of Nigeria (CBN) from which qualified applicants can access education loans through the commercial banks in the country.

The Act provides that notwithstanding anything to the contrary contained in other enactments, all students seeking higher education in any public institution of higher learning in Nigeria shall have an equal right to access the loan under this Act without any discrimination…

The loan referred to in this Act shall be granted to students only for the payment of Tuition fees. The grant of the loan to any student under this Act shall be subject to the students/applicant(s) satisfying the requirements and conditions set out under this Act."

In keeping to his campaign promise, interest and quest in ensuring access to higher education, President Bola Ahmed Tinubu signed the legislation that will guarantee access to quality higher education by qualified Nigerians.

Kudos to oga presido!!!..