FEC insists Student Loan will launch as scheduled in January

…As Tinubu approves N9.6bn insurance plan for workers

The Federal Executive Council (FEC) has insisted on Wednesday that the plans are in full gear to launch Students loans in the country.

Recall that the Federal Government in 2023 has disclosed that the Student loans will be available from January 2024.

However, many Nigerians have started to lose faith regarding it as a promise that will not see the light of day.

With the assurance given yesterday by the FG, one can only assume that Nigerians have received the confidence they need to trust the present administration to steward the implementation of the promise.

Speaking after the FEC meeting yesterday, Minister of State for Education, Dr Yusuf Sununu said that the January date for the take-off of the student loan was still in place, adding that a website had already been working for interested students with requisite criteria.

He pointed out that the government had made funding provision for it in the 2024 budget.

Sununu also disclosed that the council approved the setting up of foreign institution campuses in the country to increase enrollment of Nigerians and encourage research among higher institutes worldwide.

He said that a guideline has been provided to ensure quality of training of the local campuses are standardised with the parent institution abroad.

He added that the policy would also save the nation from scarce foreign exchange taken abroad instead of being used for national development.

Also, President Bola Tinubu approved the payment of renewal fees for the Group Life Assurance for federal government workers.

Minister of Information and National Orientation, Alhaji Mohammed Idris speaking with journalists said that this was a sequel to a memo brought by the Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan to the council.

He said the President approved about N9.6 billion for 12 local insurance firms to cover the Federal workers in case of unforeseen eventualities in the course of their duties.

“There are about12 insurance companies involved. It’s a normal annual cover that insurance companies give workers. So, in the event of death or severe injury, they can resort to and so that their families would not have to suffer,” he said.

Idris said that the approval was part of the administration’s determination to accord all its workers the needed reward that would improve efficiency, productivity and service delivery to Nigerians.