FG postpones student loan indefinitely

Kunle Sanni

The Federal Government has postponed the launch of the Nigerian Students Loan Scheme  indefinitely.

The Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer stated this in an interview with ARISE NEWS.

The loan which was formally slated to take off on Thursday, has been postponed again, as there are some corrections that are being made around the launch according to Sawyer.

“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.”

The bill, sponsored by Femi Gbajabiamila, the former Speaker of the House of Representatives, was initially planned to kickstart between September and October 2023.

President Bola Tinubu announced the scheme would begin by January 2024, after his Government failed to meet the October deadline last year.

The Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale had said during TVC’s ‘Politics on Sunday’ that President Bola Tinubu will launch the Student Loan Scheme on Thursday, March 14, 2024.

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