Federal Government Postpones Launch of Nigerian Students Loan Scheme

The Federal Government has indefinitely postponed the launch of the Nigerian Students Loan Scheme, as confirmed by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, in an interview with Arise News.

Originally scheduled to commence on Thursday, the loan scheme’s launch has been delayed once again due to ongoing corrections and alignment of stakeholders. Sawyer emphasized the importance of ensuring that all parties are coordinated to facilitate a meaningful, comprehensive, and sustainable rollout of the scheme.

The bill to establish the Students Loan Fund, providing interest-free loans for higher education, was signed by President Bola Tinubu in June 2023. Initially planned for September to October 2023, the launch was postponed, and President Tinubu announced a new start date of January 2024 after missing the previous deadline.

Preparations for the program, including the development of a dedicated website and logistical planning, were reportedly completed in January, as announced by the Minister of State for Education, Yusuf Sununu. However, the launch has been postponed once again, pending further alignment of stakeholders and finalization of necessary arrangements.


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