The launch of the Nigerian Students Loan Scheme by the Federal Government has been postponed indefinitely. Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, disclosed this during an interview on ARISE NEWS. He cited the need for corrections before the scheme's launch.
Sawyer stated, "Unfortunately, I won't be able to commit to a specific date. We are waiting to ensure all stakeholders are aligned to prevent any surprises before rolling out the scheme in a meaningful, comprehensive, and sustainable manner."
This announcement comes just 48 hours before the scheduled launch. President Bola Tinubu signed a bill in June 2023 to establish a Students Loan Fund, aimed at providing interest-free loans for higher education.
Initially proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, the scheme was intended to commence between September and October 2023. However, Tinubu later announced a start date of January 2024 after missing the October deadline.
In January, Minister of State for Education, Yusuf Sununu, confirmed that preparations for the program were complete, including the development of the Student Loan Scheme website and program commencement planning.
Additionally, Tinubu informed leaders of the National Association of Nigerian Students that the program would incorporate additional features, such as vocational studies, before its launch.
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