The Federal Government has postponed the launch of the Nigerian Student Loan Scheme indefinitely.
We had earlier reported that President Bola Tinubu will unveil the Student Loan Scheme on Thursday, March 24, his Special Adviser on Media and Publicity, Ajuri Ngelale, disclosed when he featured on TVC News Sunday Politics.
Speaking during an interview on Arise News on Tuesday, Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer, said the unveiling of the scheme has been postponed as some corrections are being made around the launch.
Sawyer, who, however, did not give a new date for the launch, said, “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 roll this out in a meaningful, comprehensive, wholesome and sustainable way.
“One thing that I will commit to is that this is a well-intended project. The president, President Bola Ahmed Tinubu means well around this and wants this rolled out as fast as possible, and we’re working very hard to help realise that.”
President Tinubu signed the bill into law in June 2023, to establish a Students Loan Fund (SLF), to provide interest-free loans to Nigerians seeking higher education.
The Loan Scheme was initially slated to take effect in September, but the implementation was delayed.
Nonetheless, Tinubu remained resolute, asserting that the program would be launched in January 2024, after his Government failed to meet the September-October deadline last year.