The launch of the Nigerian Students Loan Scheme, spearheaded by President Bola Tinubu’s administration, has been postponed indefinitely. The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, announced this during an interview with Arise News.
Initially planned to start between September and October 2023 after Tinubu signed a bill in June 2023, the programme faced delays and was rescheduled to commence in January 2024. The postponement comes despite earlier assurances from the Minister of State for Education, Yusuf Sununu, that preparations for the programme were completed, including the creation of the Student Loan Scheme website and plans for implementation.
The decision to postpone the launch was attributed to the need for corrections and alignment among stakeholders to ensure a comprehensive and sustainable rollout. Sawyer expressed uncertainty about a specific launch date, emphasizing the importance of ensuring that all stakeholders are prepared for the programme’s implementation.
The delay in the launch of the Student Loan Scheme has raised concerns among stakeholders, especially students and educational institutions awaiting the benefits of the programme. Despite earlier assurances from President Tinubu, the postponement underscores the challenges of implementing large-scale educational initiatives in Nigeria.
The Nigerian Students Loan Scheme aims to provide interest-free loans to Nigerians for higher education, with additional features such as vocational studies planned for inclusion in the programme. However, the indefinite postponement highlights the complexities and challenges associated with implementing such a scheme in the country.
Sahara Reporters