The launch of the Nigerian Students Loan Scheme by the Federal Government has been postponed indefinitely, according to a statement by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, during an interview with Arise News on Tuesday.
Originally scheduled to commence on Thursday, the loan scheme has faced another setback, with Sawyer citing the need for corrections before the launch can proceed. He emphasized the importance of ensuring that all stakeholders are aligned to avoid any surprises and to ensure a comprehensive and sustainable rollout.
The initiative, aimed at providing interest-free loans to Nigerian students for higher education, was initiated with the signing of a bill by President Bola Tinubu in June 2023. Initially planned to begin between September and October 2023, the scheme faced delays, leading to a revised commencement date in January 2024.
Preparations for the program had been announced as complete in January by the Minister of State for Education, Yusuf Sununu, including the development of a dedicated website for the Student Loan Scheme and logistical planning for its implementation.
Despite reassurances from President Tinubu to leaders of the National Association of Nigerian Students (NANS) during their visit to the State House in Abuja, the launch has been postponed until further notice, awaiting necessary adjustments and alignment among stakeholders.
