Breaking: President Tinubu signs Students Loan Bill

The President’s assent to the bill is in fulfillment of one of his promises to liberalize funding of education in the country.

The Permanent Secretary, Ministry of Education, Mr. David Adejo Andrew,

flanked by the President’s media team, led by Mr Dele Alake, a member of the Presidential Strategic Team, disclosed this to State House correspondents, at the Presidential Villa, Abuja.

The Permanent Secretary said that the Students Loan Bill that has been signed into law is an interest-free loan.

Asked if the new law will not encourage the inflation of school fees, the Presidential Media Team leader Alake said both situations are unrelated, adding that the idea behind the law is to help indigent students to be able to obtain education in the country.

He said, “We are very happy to announce to you that today (Monday), just a few minutes ago, the President His Excellency, Bola Ahmed Tinubu, signed into law, the Student Loans Bill and that Student Loans Bill, you all know what it entails, what it connotes the meaning.

“This is the promise made during the presidential campaign by the then-candidate, His Excellency, Bola Ahmed Tinubu, that he will bring back the student loans issue to the front burner and today, that promise he made has been kept, he has just signed that bill into law, which henceforth, will allow or enable our indigent students to access federal government loans to fund their educational pursuit or career and this is how it’s done in other developed climes all over the world”, he said.

Slake further stressed that the grant is solely to create opportunities for indigent candidates to get an education.