The Presidency has revealed that the anticipated launch of the student loan scheme will be postponed, with a new date yet to be disclosed.
This announcement came from the Special Adviser to the President on Information and Strategy, Bayo Onanuga, following the Federal Executive Council meeting at the Aso Rock Villa, Abuja.
The originally planned launch, scheduled for Thursday, March 14, 2024, has been delayed due to necessary rearrangements needed for a proper rollout, as explained by Onanuga.
Emphasising the President’s commitment to the scheme, Onanuga highlighted its significance as one of his flagship programmes.
Earlier indications suggested that the launch would proceed as planned, with the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, announcing the involvement of prominent figure Tinubu in the launch. However, the Executive Secretary of the Nigeria Education Loan Fund, Dr Akintunde Sawyerr, confirmed that logistical constraints have rendered the Thursday launch unfeasible.
The groundwork for the student loan scheme was laid with the signing of the Access to Higher Education Act, 2023, by Tinubu on June 12, 2023. This act aimed to provide interest-free loans to indigent students pursuing higher education, in alignment with Tinubu’s campaign promise to enhance educational funding.
Despite initial expectations for the scheme to commence in September and later in January 2024, delays persisted. President Tinubu’s directive to expand the scheme’s mandate to include skill development loans further contributed to the postponement.
While the delay is temporary, Sawyerr emphasised that all necessary preparations are in place for a successful launch. Students are encouraged to remain vigilant for updates on the new launch date, poised to seize the opportunity for educational advancement.
