Student loan bill scales third reading at Senate

The Student loan (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 has scaled the third reading at the Nigerian Senate.

Recall that the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, had announced the indefinite postponement of the scheme.

The postponement raised many concerns and questions as to the fidelity of the Tinubu led administration.

Reacting however, Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, stated that final touches are being put in place to enable proper launch of the scheme which he described as the President’s flagship programme.

Onanuga disclosed that “there will be a new date to launch the student loan scheme, it’s not forgotten.”

“There are some things that need to be rearranged so that it can be launched properly. I think that’s what’s happening.

“So the President is committed to it, you know it’s one of his flagship programmes and he wants to get it done as quickly as possible,” He explained.

With the latest move on the bill by the Senate, all that now remains for the amended bill will be the assent of the President and Nigerians can probably look forward again to the possible implementation of the scheme.

The upper legislative chamber passed the Bill for third reading after considering the report of the senate committee on tertiary institutions and TETFUND.

The Senate, had last week Thursday, passed the Bill for a second reading. The bill sponsored by Bamidele Opeyemi,  the Senate leader, among others seeks to establish the Nigeria Education Loan Fund as a body corporate to receive manage and invest funds, to provide loans for higher education, vocational training and skills acquisition.