President Bola Tinuby has signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.
The development follows reviews of the report of the Committee on Tertiary Institutions and TETFund by both the Senate and the House of Representatives
The law permits Nigerian students in tertiary institutions to access low-interest loans for tuition and other academic needs.
Signing the bill at the State House, Abuja, Wednesday the president said no one would be excluded from qualitative education and opportunity to build their future regardless of their background.
Tinubu announced that he just signed the student loan bill into law.
“First of all, I must thank members of the National Assembly for their expeditious handling of this bill considering the children of Nigeria, that education is the tool to fight against poverty effectively.
“We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes.
“This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.
“We are here because we are all educated and were helped. In the past, we have seen a lot of our children drop out of college and give up the opportunity.
“That is no more, the standard and the control is there for you to apply no matter who you are as long as you are a Nigerian citizen,” the President said.
The signing of the bill by the president came after the announcement of a temporary suspension of the commencement of the student loan scheme.
