Breaking news: The Nigerian Senate has approved the Student Loan Act of 2024.
The Senate has passed the Student Loan Act (Repeal and Re-Enactment) Bill, 2024, after considering the report from the Senate Committee on Tertiary Institutions and TETFUND.
Senator Muntari Dandutse (APC – Katsina South), the committee chairman, presented the report during plenary.
President Bola Ahmed Tinubu recently requested the repeal of the existing Student Loan Act and the enactment of a new one to improve the Higher Education Student Loan Scheme.
Tinubu’s action followed the temporary suspension of the student loan system, designed to provide low-interest loans to Nigerian tertiary students.
The Senate also debated a motion sponsored by Senator Adebule Oluranti concerning the challenge of out-of-school children in Nigeria.
Senator Oluranti emphasized the need to reduce the current number of out-of-school children, estimated at 20 million by UNESCO.
Senator Oshiomhole urged the Senate to compel the appropriate agency to publish the percentage of out-of-school children in each state to hold defaulting state governments accountable.
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