The Federal Government of Nigeria has postponed the commencement of the Nigerian student loan scheme.
The Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer, said this in an interview with ARISE NEWS.
According to him, the loan, which was originally scheduled to start on Thursday, has been postponed again due to certain modifications pending the launch.
“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.”
President Bola Tinubu signed the bill into law in June 2023.
The bill, proposed by Femi Gbajabiamila, the former Speaker of the House of Representatives, was originally scheduled to take effect between September and October 2023, aimed at granting interest-free loans to Nigerians pursuing higher education.
Minister of State for Education, Yusuf Sununu confirmed to reporters at the Federal Executive Council (FEC) meeting in January that preparations for the scheme’s launch had been completed, including the finalisation of the Student Loan Scheme website and the completion of technical plans to facilitate the scheme’s launch.
Chinedum Anayo