The President of the Federal Republic of Nigeria, President Asiwaju Bola Ahmed Tinubu, finally signs the Student Loan Bill into law, last week Wednesday, in Abuja.
The Students Loan Bill was President Tinubu’s second piece of legislation signed since he assumed office last year. The legislation was underwritten by the Speaker of the House of Representatives, Mr. Femi Gbajabiamila, and passed the reading at the House on May 25, 2023.
The new legislation nullified the previous Students Loans Bill of 2023 and re-enacts the Students Loan Bill from 2024. The bill was put in place to enable students to access loans at interest-free rate to be able to fend for their fees and basic needs in school. A member of the Presidential Strategic Team, Mr. Dele Akala has disclosed to a State House Correspondents that the signing of this bill was to fulfill his campaign promise of softening education funds and expenses.
In March, 2024, the president sent the bill back to the National Assembly, requesting a cancellation and a fresh enactment to address certain issues with the earlier Act.
President Tinubu signed the last Act in June 2023, and promised executing it on September, 2023, but it failed. The execution of this bill was also set to take off in January and February, 2024 as proposed by the government, but it also failed.
President Tinubu finally signed into law, last week Wednesday, the new Access to Higher Education Act, also known as the Students Loan Bill. President Tinubu’s Special Assistant, Mr. Dada Olusegun disclosed this on a post in his Social Media Page.
The signing in of this bill has left smiles and joy on the faces of Nigerian Students.
saharandaily