In a move aimed at expanding access to higher education, President Bola Tinubu signed the amended Student Loans (Access to Higher Education) bill into law on Wednesday. This revised legislation paves the way for Nigerian students to access low-interest loans to finance their tuition and other academic needs.
The signing ceremony, held at the State House in Abuja, was witnessed by key stakeholders in the education sector, including the National Assembly (legislature) leadership, ministers, and representatives of educational institutions.
“We are determined to ensure that education is given the proper attention necessary for the country, including skills-development programmes,” declared President Tinubu. “This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.”
The amended Student Loan Bill builds upon the initial version signed by President Tinubu in June 2023. This revision addresses some of the concerns raised by stakeholders, including the management structure of the loan fund.
The specific interest rate and eligibility criteria for the loans are still being finalized. However, the government has emphasized its commitment to making the program accessible and affordable for students from all backgrounds.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
