On June 12, the student loan package was signed into law, making good on a campaign promise he made.
According to President Bola Tinubu, the student loan plan would start to be implemented in January 2024.
At the National Economic Summit 2023 on Monday in Abuja, Tinubu promised Nigerian students that the days of constant strikes will soon be history.
“The new student loan must start by January 2024. We are declaring an end to strikes for the sake of our students’ and children’s futures, he stated.
President Tinubu fulfilled a campaign pledge by enacting the student loan bill on June 12 in honour of the day.
The measure, supported by Femi Gbajabiamila, the former Speaker of the 9th House of Representatives and current Chief of Staff to the President, makes it simple for needy Nigerians to enrol in higher education thanks to interest-free loans from the Nigerian Education Loan Fund.
Only poor students at tertiary institutions will have access to the program’s funds, which will be housed in the Ministry of Education.
READ ALSO: Student loan programme will launch in January 2024- Tinubu
After waiving the “no-work, no pay policy” that the previous administration had placed on members of the Academic Staff Union of Universities (ASUU), Tinubu made the decision on Monday.
The university lecturers went on an eight-month strike to highlight their grievances, which included inadequate school finance.
[“Change Welfare”]
At the ceremony on Monday, Tinubu also called for enhancements to the civil service and legal system’s welfare.
The president pointed out that these reforms will eventually pay off while acknowledging the suffering that the subsidy impact causes.
We have experienced the agony of these reforms, but we will soon start to see the benefits, he continued.
