In a decisive move on March 20, the Nigerian Senate passed the transformative Student Loans (Access to Higher Education) Act, aiming to repeal and re-enact the existing legislation in 2024.
This pivotal decision came after the Senate reviewed the recommendations from the Senate Committee on Tertiary Institutions and TETFUND. Senator Muntari Dandutse, the committee’s chair, presented the findings in a plenary session.
The legislative process gained momentum when President Bola Tinubu submitted the Bill to the National Assembly, prompting an expedited review.
The Senate swiftly suspended certain standing rules to facilitate a quicker deliberation by the Committee of the Whole.
Following a robust debate, Senate President Godswill Akpabio tasked the Senate Committee on Tertiary Institutions and TETFUND with additional legislative scrutiny, setting a one-week deadline for a follow-up report.
The Bill’s primary objective is to democratize higher education by granting indigent Nigerians access to interest-free loans.
This initiative is supported by the newly established Nigerian Education Loan Fund, reflecting a commitment to ensuring education for all citizens.
