Presidency reassures: Student loan scheme remains a priority

The Presidency announced on Wednesday its decision to postpone the launch date of the much-anticipated student loan scheme. Special Adviser to the President on Information and Strategy, Bayo Onanuga, conveyed this update to State House correspondents following the Federal Executive Council meeting at the Aso Rock Villa, Abuja. Onanuga assured that while the initial launch date of Thursday, March 14, had been deferred, the scheme remained a priority for the administration.

Explaining the delay, Onanuga cited the need for necessary adjustments to ensure a successful launch of the program. He reiterated the President’s commitment to the initiative, underscoring its significance as one of his flagship projects. The announcement comes amidst earlier indications by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, who had previously slated the launch for March 14, 2024.

The student loan scheme, a pivotal component of the Access to Higher Education Act, 2023 signed into law by President Tinubu on June 12, 2023, aims to provide interest-free loans to financially challenged students pursuing tertiary education in Nigeria. Despite initial expectations for a September rollout, subsequent delays pushed the projected commencement to January 2024. President Tinubu has repeatedly emphasized the importance of the initiative, particularly in ensuring stable educational funding and minimizing disruptions caused by strikes in tertiary institutions.