The Nigerian Students Loan Scheme, initially set to launch after several delays, has now been postponed indefinitely, as announced by Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, during an interview with ARISE NEWS. This postponement comes despite previous efforts to establish the program, including President Bola Tinubu signing a bill in June 2023 to create a Students Loan Fund for higher education.
The bill, proposed by former Speaker of the House of Representatives Femi Gbajabiamila, was intended to begin between September and October 2023, with President Tinubu later aiming for a January 2024 start date after missing the initial deadline. In January, Minister of State for Education Yusuf Sununu stated that preparations for the program were complete, including the creation of the Student Loan Scheme website and planning for the launch.
President Tinubu had also indicated to leaders of the National Association of Nigerian Students that additional features, such as vocational studies, would be incorporated into the program before its commencement. However, despite these preparations, the launch of the loan scheme was postponed just 48 hours before its scheduled date due to the need for corrections.
Sawyer emphasized that a specific date for the launch could not be committed to at this time, citing the necessity to ensure alignment among stakeholders to guarantee a comprehensive and sustainable rollout of the program.
