The launch of the student loan scheme by the Federal Government has been indefinitely postponed.
The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, during an interview announced the postponement of the loan scheme due to ongoing corrections required before the launch.
Earlier in June 2023, President Bola Tinubu signed a bill initiating a Students Loan Fund aimed at providing interest-free loans to Nigerians for higher education.
The bill, which passed the third reading in the lower chamber on May 23, 2023, aims to offer financial assistance to Nigerian students enrolled in tertiary institutions.
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However, just 48 hours before the scheduled launch, Sawyer regretfully stated that he would be unable to provide a specific date for commitment and explained that they were waiting to ensure alignment among all stakeholders to prevent anyone from being blindsided.
He further mentioned that once this alignment was achieved, they could proceed with rolling out the project in a meaningful, comprehensive, wholesome, and sustainable manner.
“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can roll this out in a meaningful, comprehensive, wholesome and sustainable way,” he said.
