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FG postpones students loan launch indefinitely


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President Bola Tinubu’s administration has postponed the commencement of the Nigerian Student Loan Scheme indefinitely.

The Executive Secretary of the Nigerian Education Loan Fund, Mr Akintunde Sawyer confirmed this when he appeared on Arise Television on Tuesday.

Recall that in June 2023, President Tinubu okayed legislation to set up a Students Loan Fund, which would provide interest-free loans to Nigerians for higher education.

Honourable Femi Gbajabiamila, former Speaker of the House of Representatives and the Chief of Staff to the president introduced the law, which was expected to kick off between September and October 2023.

Meanwhile, Tinubu said the programme would begin in January 2024, after missing the October deadline.

However, barely 48 hours before the launch, Sawyer said the loan scheme was postponed due to some corrections that were being made around 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,” he said.

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