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President Bola Tinubu Signs Student Loan Bill into Law
President Bola Tinubu has delivered on a crucial campaign pledge by officially signing the Student Loan Bill into law.
The momentous announcement was made on Monday by Mr. Dele Alake, the spokesperson for the Federal Government. Alake revealed that the funds allocated for this initiative would be securely held in the Ministry of Education, ensuring exclusive access to indigent students in tertiary institutions across the country.
The bill, sponsored by the esteemed Speaker of the 9th House of Representatives, Femi Gbajabiamila, garnered immense support and successfully passed its third reading in the House a mere two weeks ago.
The primary objective of this groundbreaking legislation is to provide interest-free loans to financially disadvantaged Nigerian students, empowering them to pursue higher education without the burden of exorbitant interest rates.
By establishing the Nigerian Education Loan Fund, this newly enacted law is set to revolutionize access to higher education for students hailing from underprivileged backgrounds.
Recognizing the immense financial barriers faced by such students, this progressive legislation aims to level the educational playing field, granting equal opportunities to all aspiring scholars throughout the nation.
With the implementation of the student loan program, talented and deserving students who have been hindered by financial limitations will now have the means to fulfill their educational aspirations.
This monumental stride toward equality in education signifies a significant step forward for the nation, as it creates a more inclusive and accessible educational landscape.
I was pleased, today, to have signed into law, the Access to Higher Education Act which provides interest-free loans to deserving students across the country who wish to further their education in tertiary institutions.
— Bola Ahmed Tinubu (@officialABAT) June 12, 2023
With this Act we shall ensure that every deserving student… pic.twitter.com/ptRLCDOZMU
