In order to keep a campaign pledge, President Bola Tinubu has signed the Student Loan Bill into law.
The Federal Government’s spokesperson, Mister Dele Alake, made this announcement on Monday, stating that the money will be housed at the Ministry of Education and that only needy students at tertiary institutions will have access to it.
The House passed the student loan bill, sponsored by Femi Gbajabiamila, Speaker of the 9th House of Representatives, on the third reading two weeks ago. The bill will grant needy Nigerian students interest-free loans.
According to the bill, poor Nigerians would have easy access to higher education thanks to loans from the Nigerian Education Loan Fund that are interest-free.