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Tinubu signs amended Student Loans Act into law

President Bola Ahmed Tinubu, GCFR (seated)

*Nigerian President Bola Ahmed Tinubu explains how the new Student Loans Law will enable students to pursue their dreams in education

Isola Moses | ConsumerConnect

President Bola Ahmed Tinubu has signed the amended Students’ Loan earlier passed by the National Assembly (NASS) into law.

ConsumerConnect reports the Federal legislators had considered the President’s request for amendment of the bill before passing it.

Tinubu said that his administration was determined to ensure that education and skill development programmes are given the proper attention they deserve.

The Nigerian leader also explained that the new law would afford the students an opportunity to pursue their dreams in education.

He stated: “We are here because we are all educated and were helped. In the past, we have seen a lot of our children dropped out of colleges, and given 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.”

“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”,

The President further commended the FEdrral lawmakers for their expeditious action on the Bill, and urged students to apply for the loans.

It is recalled that on his assumption of office, President Tinubu had signed the student loans bill June 2023, which implementation was to commence January 2024 in fulfilment of one of his campaign promises to liberalise funding for education in the West African country.

He, however, later directed the Management of the Nigerian Education Loan Fund (NELFUND) to expand its focus area by extending interest-free loans to Nigerian students interested in skill-development programmes.

Tinubu stated the scheme should accommodate those who may not want to pursue university education.

Skill acquisition, President Tinubu said, is as important as obtaining undergraduate and graduate academic qualifications from tertiary institutions of learning.

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