The initiation of the Nigerian Students Loan Scheme has been indefinitely delayed by the Federal Government.
During a Tuesday interview with ARISE NEWS, Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, disclosed the postponement.
The scheme, which was designed to provide interest-free loans for higher education to Nigerian students, was initiated by a bill signed by President Bola Tinubu in June 2023.
Initially proposed by Femi Gbajabiamila, a former Speaker of the House of Representatives, the program was expected to commence between September and October 2023.
After missing the initial launch window, President Tinubu announced that the scheme would be operational from January 2024.
By January, the Minister of State for Education, Yusuf Sununu, confirmed that all preparatory steps, including the development of the Student Loan Scheme website and operational planning, were complete.
President Tinubu also assured the National Association of Nigerian Students’ leaders that the scheme would be launched once additional features, such as vocational studies, were integrated.
Nonetheless, with less than two days to the anticipated start, Sawyer revealed that the launch was being postponed to address certain adjustments needed for the scheme’s introduction.
“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way,” he said.
