The Federal Government has announced the indefinite postponement of the Nigerian Students Loan Scheme launch. Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, revealed this during an interview with Arise News on Tuesday.
Initially slated to commence on Thursday, the loan scheme has faced yet another setback. Sawyer cited the need for corrections before the launch, expressing regret over the inability to provide a specific date. He emphasized the importance of aligning stakeholders’ interests to ensure a meaningful and sustainable rollout.
This delay comes after months of anticipation following President Bola Tinubu’s signing of the bill in June 2023 to establish the Students Loan Fund. Sponsored by former Speaker of the House of Representatives, Femi Gbajabiamila, the initiative aimed to provide interest-free loans to Nigerian students pursuing higher education.
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Originally scheduled for September to October 2023, the launch was pushed to January 2024 due to governmental delays. Minister of State for Education, Yusuf Sununu, had announced in January that preparations for the program were completed, including the development of the Student Loan Scheme website.
President Tinubu had reassured leaders of the National Association of Nigerian Students (NANS) during their visit to the State House in Abuja, promising the program’s commencement once additional features, such as vocational studies, were incorporated.
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