Thelma Osatohanmwen
The highly anticipated launch of the Nigerian Students Loan Scheme has been postponed indefinitely, announced by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer.
NEWSTODAYNG gathered that the scheme, which was Initially slated to commence on Thursday, faces another setback as Sawyer cited ongoing corrections as the reason for the delay.
Sawyer expressed regret, stating, “Unfortunately, I won’t be able to commit to a specific date. We are waiting to ensure that all stakeholders are aligned to prevent any surprises before rolling out the scheme in a meaningful, comprehensive, and sustainable manner.”
The journey towards this loan scheme began in June 2023 when President Bola Tinubu signed a bill establishing a Students Loan Fund to provide interest-free loans for higher education, sponsored by former Speaker of the House of Representatives, Femi Gbajabiamila.
Initially targeted for a September to October 2023 launch, the program faced delays, prompting President Tinubu to announce a commencement date of January 2024 after missing the October deadline.
In January, Minister of State for Education, Yusuf Sununu, announced completion of program preparations, including the Student Loan Scheme website development and launch planning.
President Tinubu, during a meeting with the National Association of Nigerian Students (NANS) leaders in Abuja, assured that the program would incorporate additional features such as vocational studies before its initiation.