Abuja, Oct. 23, 2023 – The Students’ Loans scheme will commence by January 2024.
President Bola Tinubu announced this on Monday while speaking at the 29th Annual Meeting of Nigerian Economic Summit in Abuja.
He spoke on plans to stabilise the economy with the collaboration of all stakeholders, especially the private sector,
He said that there was the need to immediately initiate a sustainable credit scheme to aid an effective anti-corruption campaign.
Tinubu also said that his administration would end industrial actions in the nation’s academic environment.
“By January 2024, the new Students Loan Programme must commence. To the future of our children and students we’re saying no more strikes.
“There must be consumer credit, scheme will have to come to effect as soon as possible. I thank my team and my colleagues to build this programme, develop it now. We cannot talk about anti-corruption when you have to look for cash to buy a car, when there’s no mortgage for homeownership.”
The take-off of the students’ loans scheme was also announced by the Presidency via a post on its verified X handle (formerly known as Twitter) on Monday.
It wrote: “By January 2024, the new student loan programme must commence.”
The Student Loan Bill was sponsored by Femi Gbajabiamila, the Speaker of the 9th House of Representatives to provide for interest-free loans to indigent Nigerian students.
While signing the bill into law, Tinubu had said government was putting all measures in place to ensure the student loan scheme would start between September and October 2023. (GBN)
