The Nigerian government has indefinitely postponed the launch of the student loan scheme.
The launch of the Nigerian Students Loan Scheme by the Nigerian government has been postponed indefinitely. Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this during an interview with Arise News on Tuesday.
In June 2023, President Bola Ahmed Tinubu signed a bill to establish the Students Loan Fund, which aimed to provide interest-free loans to Nigerians pursuing higher education. Initially planned to commence between September and October 2023, the launch was delayed due to unforeseen circumstances. President Tinubu then announced that it would start in January 2024.
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In January, Minister of State for Education Yusuf Sununu announced the completion of preparations for the Student Loan Scheme program, including the development of its website and plans for commencement. President Tinubu assured leaders of the National Association of Nigerian Students of the program’s imminent start, with intentions to include additional features such as vocational studies.
However, just 48 hours before the scheduled launch, Sawyer disclosed that the program’s launch was postponed due to the need for adjustments. He did not provide a new date for the launch.
Sawyer stated on Tuesday that the launch had been delayed to make necessary corrections around the launch itself. He expressed the government’s commitment to rolling out the program comprehensively and sustainably, aligning all stakeholders before announcing a new launch date.
“While I can’t commit to a specific date, I assure you that President Bola Ahmed Tinubu is fully committed to this project and desires a swift rollout. We’re working diligently to make that happen,” Sawyer said.
