By For Students Hoping to Benefit from FG Loans Scheme, the Wait Gets Longer
Ghazali Ibrahim
Tertiary institution students across Nigeria eagerly awaiting the commencement of the Federal Government’s much-anticipated loan scheme will have no option than to wait even longer, as the launch has been postponed indefinitely.
The decision to postpon the launch was announced by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, during an interview with Arise News.
“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way,” he stated.
The loan, originally scheduled to commence between September and October 2023, is designed to provide interest-free rates to students pursuing higher education and vocational skills development.
However, delays in the implementation process have pushed the launch date further, dashing many students hope.
The bill for the loan scheme was signed by President Bola Tinubu in June 2023. The bill was sponsored by the immediate past Speaker of the House of Representatives, Femi Gbajabiamila.
Despite assurances from the federal government, that the programme would commence in January 2024, after missing the initial October deadline, students are still left in disappointment.
In January, Minister of State for Education, Yusuf Sununu, announced that preparations for the programme had been completed, including the establishment of the Student Loan Scheme website and detailed plans for implementation.
However, just days before the anticipated launch, Sawyer announced the postponement of the scheme.
For now, students hoping to benefit from the loan scheme will have to endure the wait, with the hope that the programme will be rolled out soon.
