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Published on 2024-04-03 15:12:16
President Bola Tinubu has made a significant move by signing the amended student loan bill into law at the Presidential Villa on Wednesday. This action followed thorough considerations by the Senate and House of Representatives committee on tertiary education. Tinubu had initially submitted the amended bill to the House of Representatives back in March for review.
The bill, titled Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill 2024, was finally signed into law by President Tinubu on April 3. This development marked a milestone in the efforts to improve access to higher education for students in the country. The signing of the bill came after extensive discussions and evaluations by both chambers of the National Assembly committees responsible for tertiary institutions and TETFund.
The decision to forward the amended student loan bill to the House of Representatives for consideration was a crucial step taken by Tinubu on March 14. During the plenary session, the Speaker of the House of Representatives, Tajudeen Abbas, read the President’s letter, outlining the objectives of the bill. The bill aimed to enhance the implementation of the Higher Education Student Loan Scheme by addressing various challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources, and disbursement and repayment procedures.
Despite some controversies surrounding the alleged suspension of the student loan scheme indefinitely by the presidency, Tinubu proceeded with the signing of the bill into law. The presidency clarified that the scheme’s postponement was to facilitate its expansion to cater to persons with disabilities. This move reiterated the government’s commitment to inclusive education policies and initiatives.
In a separate incident, Tinubu made it clear that his administration would not entertain the payment of ransom for the rescue of students kidnapped in Kaduna state. This statement was made during a Federal Executive Council meeting with service chiefs in Abuja. Tinubu emphasized a zero-tolerance policy towards kidnapping activities, especially mass abductions.
The signing of the amended student loan bill into law by President Tinubu reflects a significant step towards promoting access to higher education in the country. Despite challenges and controversies, the government remains committed to enhancing educational opportunities for all students. This legislative development underscores the importance of proactive measures to address critical issues in the education sector and ensure equal access to quality education for all citizens.
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