0
0
President Bola Tinubu has confirmed the commencement of the student loan initiative in January 2024 during his speech at the National Economic Summit 2023 in Abuja on Monday. He assured Nigerian students that the days of frequent strikes would soon be a thing of the past.
“Starting from January 2024, the new student loan program will be in effect. We are committed to ensuring a strike-free future for our children and students,” he declared.
In honor of June 12, President Tinubu fulfilled his campaign promise by signing the student loan bill into law. The bill, initially sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, who now serves as the Chief of Staff to the President, establishes a pathway to accessible higher education for financially disadvantaged Nigerians through interest-free loans from the Nigerian Education Loan Fund. These funds will be managed by the Ministry of Education and exclusively accessible to financially disadvantaged students pursuing tertiary education.
This development follows President Tinubu’s recent decision to waive the ‘no-work, no pay policy’ that was previously imposed on members of the Academic Staff Union of Universities (ASUU) by the previous administration. The academic staff had embarked on an eight-month strike to advocate for improved funding of educational institutions, among other demands.
During Monday’s event, Tinubu also called for enhancements to the well-being of the legal system and civil service.
The president acknowledged the difficulties brought about by the impact of these reforms, emphasizing that the benefits would become evident in due course.
“We have experienced the challenges posed by these reforms, but in due time, we will start to see the fruits of our efforts,” he affirmed.
Tinubu also emphasized the importance of addressing the welfare of the judiciary, highlighting that expecting fair and passionate justice from individuals with empty stomachs is unrealistic. Additionally, he provided assurance of rapid construction of new and affordable homes.
