The signing of the bill was in “fulfilment of one of his campaign promises to liberalise funding of education,” a member of the Presidential Strategic Team, Dele Alake, told State House Correspondents on Monday evening.

The Students Loan Act becomes Tinubu’s second piece of legislation signed since he assumed office two weeks ago.

The bill will enable indigent students to access loans at interest-free rates.

The piece of legislation, sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, passed the third reading at the House on May 25, 2023.

According to Alake, who was accompanied by other members of the media team, including Tunde Rahman and Abdulaziz Abdulaziz, and the Permanent Secretary, Ministry of Education, David Adejoh, the new law mandates prospective beneficiaries to show proof of their origins.

“We’re very happy to announce to you that today the President, His Excellency, Bola Tinubu, signed into law the Student Loans Bill.

This is a promise made during the presidential campaign by the then candidate, His Excellency Bola Tinubu, that he will bring back the student loans issue onto the front burner.

“And today, that promise he made has been kept. He has just signed that bill into law, which henceforth would allow or enable our indigent students to access Federal Government’s loans to fund the educational pursuit or career,” Alake said.

The presidential aide said the move was in sync with standard practice in developed climes globally and would ease access to education.

“This is how it’s done in other developed climes. So this is a boost to our youths and students nationwide.

“Of course, there are prescribed qualification parameters. And that is the proof of indigenship of whoever is to be a beneficiary.

“Of course, there are committees to be set up. The members of committees will be drawn from various bodies to superintend over the efficient and proficient disbursement of this facility,” he added.

Also said although the bill takes effect immediately, the procedures for application will be worked out by the committees to superintend the process.

On his part, the Permanent Secretary, Ministry of Education, Adejoh, said by implication, the current scholarship board of the Federal Government will become a loan board capable of offering educational credit facilities to qualified applicants.

“Today, what the President has done goes beyond the symbolism. It is a demonstration of intent in terms of how he wants to handle education as he progresses in his presidency. Once the bill has been signed, that is the most important thing. A bill tells you what should be done. The how is what we are going  to put together.

“What we have now is that nobody shall say money did not allow him to go to school,” he added.

Reacting, the Academic Staff Union of Universities described the loan bill as discriminatory between the children of the rich and the poor.

National President, ASUU, Prof. Emmanuel Osodeke, in an interview, said, “The union will react soon but everyone knows our position on student loans because you will end up encumbering the children of the poor with loans and debt after graduating. This is discriminatory. If what I read online is correct, it said it is only for children whose parents earn at least N500,000 per annum. That means if your father earns more, you won’t benefit.”

Similarly, the National President, Academic Staff Union of Polytechnics, Mr Anderson Ezeibe, said, “I have not studied the bill and we don’t want to react on the surface. But I have seen one area that will not be practicable.

“It says that students should refund the money two years after NYSC. But what is the provision for someone who is not working after NYSC?  And will they all get jobs immediately after NYSC?”

However, the National Association  of Nigerian Students described the student loan bill as a “way forward” in the country’s education system.

In a statement made available to The PUNCH on Monday, the Cordinator,  NAN, Zone D, Adejuwon Emmanuel, however, faulted the repayment terms.

“Without saying much, student loan bill is a way forward to the educational system in Nigeria, because it will assist student whose parent cannot afford to pay tuition fee to be able to pay with the loan.

“But as good as this is, there are some questions that need to be answered by the government. The ultimatum for repayment is not feasible. As we all know that there is no work anywhere and most graduates don’t  get work immediately, how will they pay back? How will it work when most of our graduates do not get jobs. Is there any plan or opportunity for those that have no work two years after NYSC?”

A former Deputy Vice-Chancellor at the University of Uyo, Prof Ini Uko, in an interview with our correspondent, lauded the initiative.

Uko said, “Well, this means that tuition fees will go up. The subsidy on tertiary education will be removed. Vice-chancellors will now be able to introduce tuition fees. This is a good initiative. I am a beneficiary of a student loan and, of course, the people who benefit from it will have to pay back.

“The truth is that we have to stop pretending that the government alone can continue to fund tertiary education. It is not possible.”

The National President of ASUP, Dr. Anderson Ezeibe, and the Chairman, ASUU FUTMinna, Dr. Gbolahan Bolarin, confirmed this in separate interviews with our correspondent in Abuja on Thursday.

The PUNCH reported that the two unions are currently on strike following the inability of the government to meet their demands including the payment of minimum wage arrears and release of revitalisation funds, among others.

While ASUU commenced its strike on February 14, 2022, ASUP is currently on an initial two-week warning strike.

Confirming the payment on Thursday, Ezeibe, however, said that was just the beginning.

He said, “The government has started responding. They just started paying the salary/minimum wage arrears, the one they have refused to pay.

“However, that is just one of the demands, so we have not reached anywhere. They have not attended to the others, but I can confirm that people have started receiving alerts of the arrears owed.”

Also, Bolarin, said, “Some of my members got alert of their minimum wage arrears; their salaries are still pending.”

Meanwhile, Ladoke Akintola University of Technology’s management has announced that the school would resume academic activities on Thursday, May 26, 2022.

A circular which was signed by the Registrar of the school, Kayode Ogunleye, partly read, “Upon the directive of the visitor to the university, the management hereby informs all staff and students that the university will continue its academic activities for the first semester of the 2021/2022 academic session on Thursday, May 26, 2022.

Also, Bolarin, said, “Some of my members got alert of their minimum wage arrears; their salaries are still pending.”

Meanwhile, Ladoke Akintola University of Technology’s management has announced that the school would resume academic activities on Thursday, May 26, 2022.

A circular which was signed by the Registrar of the school, Kayode Ogunleye, partly read, “Upon the directive of the visitor to the university, the management hereby informs all staff and students that the university will continue its academic activities for the first semester of the 2021/2022 academic session on Thursday, May 26, 2022.

Ezeibe stated this during his visit to the Federal Polytechnic, Auchi, Edo State to observe the level of compliance with the strike by the union’s members.

ASUP had on April 6 embarked on a nationwide strike.

Ezeibe said in a statement “Our members should continue to believe in the union the way they have been doing, we have very supportive members as you can see; the strike is in full swing. Every polytechnic is observing the strike and the compliance level is very high. We will continue to persevere; victory is around the corner. The strike has yielded some positive responses from the Federal Government by appointing and inaugurating governing councils for polytechnics across the country, setting up visitation panels, reinstatement of some dismissed members, though the payment of N15bn for infrastructure in polytechnics and allowances, among others, are still pending. I must express concern over the appointment of unqualified rectors for polytechnics against the Federal Polytechnics Act. To be a rector, the person must be a chief lecturer for a minimum of five years in any of the polytechnics.”

The emergency meeting had been scheduled for Tuesday, April 6, 2021, at 11 am.

A statement by the Director of Press in the Federal Ministry of Education, Ben Bem Goong, on Monday, titled “Education Minister invites ASUP to Emergency Meeting,” said the invitation followed the threat by ASUP to embark on another round of strike.

He said, “The Minister of Education, Adamu Adamu, has invited the Academic Staff Union of Polytechnics to an emergency meeting following the threat to embark on another round of strike. The emergency meeting is to hold tomorrow, April 6, 2021, at 11 am in the Ministry’s headquarters in Abuja. Explaining the reason for the emergency meeting, the Minister said the meeting is intended to nip the strike in the bud.”

Goong recalled that ASUP had issued a notice of strike over what the union described as the refusal of the government to implement some of the agreements entered into between them and the Federal Government.

National President of the union, Mr Usman Dutse, made the call at the opening ceremony of the 15th National Delegates Conference (NDC) of ASUP held at the Federal Polytechnic, Ilaro in Ogun.

Dutse recalled that the Act, which was signed by President Buhari in June, had not been fully implemented.

He noted that, “You can see how the Federal Government put pressure on us on IPPIS issue; if it is their interest, they will put pressure.

“Some Rectors had forced the union members to be enrolled in the scheme, but this act that will benefit the system and workers, has not been implemented.

“Now, there is a letter from the ministry, forwarded by NBTE, that some provisions of the act should not be implemented until next year.

“That is why we are asking, why the alteration? They altered other areas, and they said the council should remain till next year.

“We are not against the council being delayed till next year, but there are some council members that the act has removed.

“We want them to know that there is need for them to take action in that regard.”

According to reports, the Chairman, Academic Staff Union of Polytechnics of the college, Mr. Opadijo Olujide; his secretary, Gbenga Alayande; and three others were reportedly kidnapped on their way from Saki on Thursday.

The latest kidnap of the lecturers, according to the Police Public Relations Officer, Gbenga Fadeyi, prompted the Commissioner of Police, Shina Olukolu, to storm the area for an on-the-spot assessment.

Fadeyi said, “the Commissioner of Police went there in the morning for an on-the-spot assessment. Other developments will be unraveled in the coming days”.