Tinubu Sends New Bills to National Assembly Concerning Student loan

March 14, 2024 Joshua Samuel

Less than 48 hours after the federal government announced the indefinite suspension of the student loan scheme, President Bola Tinubu sent a bill to the National Assembly requesting the repeal of the current Act and the passage of a new one.

In a letter to Speaker Tajudeen Abbas, President Tinubu stated that the step was necessary to ensure that the scheme could be implemented smoothly.

Mr Tinubu signed the existing Act as one of the first pieces of legislation following his office.

Femi Gbajabiamila, the president’s chief of staff, sponsored the bill during his speakership.

However, the government has struggled with the scheme’s implementation, postponing its launch several times.

Two days ago, a key government official declared that the student loan plan would be suspended indefinitely.

In his letter, Mr Tinubu stated that the proposed measure aims to solve “challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources, and disbursement and repayment procedures.”

President Tinubu’s letter:

TRANSMISSION OF STUDENT LOANS (ACCESS TO HIGHER EDUCATION) (REPEAL AND RE-ENACTMENT) BILL, 2024

Under Section 58(2) of the Constitution of The Federal Republic of Nigeria, 1999 (as amended). I forward, herewith, The Student Loan (Access to Higher Education) (Repeal and Re-Enactment) Bill, 2024 for the kind consideration of the House of Representatives.

The Student Loan (Access to Higher Education) (Repeal and Re-Enactment) Bill, 2024 seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

Whilst hoping that this submission will receive the usual expeditious consideration of the House of Representatives, please accept, Rt. Honourable Speaker, the assurances of my highest consideration.

Yours sincerely,

Bola Ahmed Tinubu.

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Joshua Samuel

A conscientious writer with a knack and passion for story telling which spans across different sectors and segments. I love telling stories in writing and bringing quality, authentic and timely information to everyone everywhere.

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