President Bola Tinubu has signed the Student Loans Access to Higher Education Act (Repeal and Re-Enactment Bill) 2024, into law on Wednesday.
Regarding the report from the Committee on Tertiary Institutions and TETFund, the bill underwent separate considerations by both the Senate and the House of Representatives.
Speaking after the signing in the presence of the leadership of the National Assembly, Ministers, and Major Stakeholders of Education,Tinubu made it clear that every Nigerian, regardless of their background, should have access to quality education.
He emphasized the importance of ensuring that no one, regardless of how poor their background is, is excluded from quality education and the opportunity to build their future.
The president expressed gratitude to the National Assembly for promptly reviewing the legislation, reaffirming the government's dedication to improving the skill levels of Nigerians.
He signed the Access to Higher Education Act, 2023 into law on June 12, 2023, allowing indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.
The Act, commonly referred to as the Students Loan Law, also set up the Nigerian Education Loan Fund to handle all loan applications, grants, disbursements, and repayments.
Despite the government's initial announcement of the scheme's launch in September, various delays occurred, ultimately leading to an indefinite postponement in early March.
