President Bola Tinubu, in a significant move aimed at bolstering access to education, has officially signed the Student Loan Bill into law.
This landmark legislation, which was eagerly awaited by students across Nigeria, promises to revolutionize the higher education landscape in the country.
Dele Alake, an aide to the president, made the announcement to State House Correspondents during a press briefing held on Monday evening.
The signing of the bill signifies the government’s commitment to providing financial assistance to Nigerian students pursuing higher education.
Under the provisions of the newly enacted law, Nigerian students will now have the opportunity to avail themselves of loans at interest-free rates.
This crucial provision aims to alleviate the burden of exorbitant interest rates that often hindered students from pursuing their academic aspirations.
The Student Loan Bill had already gained substantial momentum within the legislative process, having successfully passed the second reading at the House of Representatives on May 25, 2023.
Its passage through the various stages of deliberation underscores the widespread recognition of the importance of higher education and the need for accessible financial support for students.
With this law in effect, aspiring Nigerian students can now be optimistic about their chances of securing financial assistance to pursue their educational goals.
President Bola Tinubu’s decisive action in signing this bill demonstrates the government’s commitment to empowering the nation’s youth and investing in their future.