The Student Loan Scheme, which President Bola Tinubu approved on June 12, 2023, will launch in January 2024, he confirmed on Monday.
Additionally, he pledged that tertiary institution academic staff union industrial action episodes will eventually end.
“By January 2024, the new Students Loan Programme must commence. To the future of our children and students we’re saying no more strikes,” Tinubu said when he declared open the 29th session of the annual Nigeria Economic Summit at Transcorp Hilton, Abuja.
The NES is anchored by the non-profit think-tank, the Nigerian Economic Summit Group.
In addition to outlining his administration’s strategies for bringing about economic stability with the cooperation of all parties involved—particularly the business sector—Tinubu also stressed the importance of starting a sustainable credit program right once.
He reasoned that this kind of plan would support a successful anti-corruption initiative.
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“There must be consumer credit, the scheme will have to come into effect as soon as possible.
“I thank my team and my colleagues for building 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”, he said.
Tinubu’s comments come just 72 hours after he approved the partial waiver of the “No Work, No Pay” Order instituted against striking members of the Academic Staff Union of Universities following the commencement of their eight-month strike which began on February 14, 2022, and was terminated on October 17, 2022.
With the waiver, the eight months of wages that were withheld during the eight-month industrial action that the union initiated can now be distributed to ASUU members who were on strike four months ago.
