The eagerly anticipated launch of the Nigerian Student Loan Scheme by the Federal Government has been postponed indefinitely, according to Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund.
Sawyer disclosed this development during an interview with ARISE NEWS on Tuesday.
The scheme, which was initially proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, and signed into law by President Bola Tinubu in June 2023, aimed to provide interest-free loans to Nigerian students for higher education.
Despite initial plans for implementation between September and October 2023, the programme faced delays, with Tinubu indicating a revised start date of January 2024.
The Minister of State for Education, Yusuf Sununu, confirmed in January that preparations for the programme were complete, including the development of the Student Loan Scheme website and operational planning. Tinubu also conveyed intentions to incorporate additional features, such as vocational studies, before launching the programme.
However, just 48 hours prior to the anticipated launch, Sawyer announced the postponement, citing the need for corrections around the launch process. “Unfortunately, I won’t be able to commit to a specific date,” he stated, emphasising the necessity for alignment among stakeholders to ensure a comprehensive and sustainable rollout.
