JUST IN: Tinubu approves student loan amendment bill as law

President Bola Ahmed Tinubu officially signed the Student Loans Re-enactment Bill into law during a ceremony held at the State House on Wednesday, April 3rd.

Read Also: Student Loan bill approved by Senate.

This significant event marks a milestone in the education sector of Nigeria, aiming to provide financial assistance to students pursuing higher education, vocational training, and skills acquisition.

The bill, titled “A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004,” establishes the Nigerian Education Loan Fund as a body corporate.

This fund will be responsible for receiving, managing, and investing funds to provide loans to Nigerian students, ensuring they have access to quality education and training opportunities.

The signing ceremony took place in the presence of key figures such as the leadership of the National Assembly, Ministers, and major stakeholders in the education sector.

This demonstrates the collaborative effort and support from various entities towards enhancing educational opportunities for the youth of Nigeria.

The enactment of this bill is a positive step towards promoting education and skill development in the country, ultimately contributing to the overall growth and development of the nation.