President Bola Tinubu signed the National Students Loan Amendment bill into law at a ceremony in the State House on Wednesday, April 3.
The event was attended by Senate President Godswill Akpabio, Deputy Senate President Barau Jibrin, Chief of Staff Femi Gbajabiamila, Education Ministers Hannatu Musawa and Ayodele Olawande, as well as the president of the National Association of Nigerian Students, among others.
President Tinubu expressed gratitude to the National Assembly for promptly processing the bill, while emphasising the role of education in combating poverty so that the Nigerian child can have a better future.
“I have just signed a bill proclaiming the student loan effectively. 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,” he said, while speaking at the event.
“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 added.
The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, initially signed in June 2023, aims to provide financial aid to Nigerian tertiary students. However, its implementation has been delayed due to various issues.
The bill was signed into law following individual reviews by the committees on tertiary institutions and TETFund from both chambers of the National Assembly.