The Nigerian Students Loan Scheme’s introduction has been indefinitely delayed by the Federal Government.
In an interview with ARISE NEWS, Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this information.
According to Sawyer, the loan, which was officially scheduled to debut on Thursday, March 14, has been rescheduled because of certain launch-related modifications.
“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome, and sustainable way.”
The measure, which established the Students Loan Fund (SLF) to offer interest-free loans to Nigerians pursuing higher education, was signed into law by President Bola Tinubu in June 2023.
The former Speaker of the House of Representatives Femi Gbajabiamila is the bill’s sponsor. Originally, the measure was scheduled to begin in September or October of 2023.
After his government missed the October target in the previous year, President Tinubu said that the program will start in January 2024.
Speaking to reporters during the Federal Executive Council (FEC) meeting in January, Yusuf Sununu, the Minister of State for Education, confirmed that all necessary arrangements had been made for the scheme to launch, including the completion of technical plans to enable the website for the Student Loan Scheme.
