The Nigerian government has postponed the launch of the Nigerian Students Loan Scheme indefinitely.
This was made known by Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), in an interview with Arise News on Tuesday.
In June 2023, President Bola Ahmed Tinubu signed a bill to establish a Students Loan Fund aimed at providing interest-free loans to Nigerians pursuing higher education.
The bill, proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, was initially slated to commence between September and October 2023.
However, due to unforeseen circumstances, the program’s launch was delayed, and President Tinubu announced that it would now begin in January 2024.
In January, Minister of State for Education, Yusuf Sununu, announced during a meeting that preparations for the Student Loan Scheme program were complete.
This included the development of the program’s website and the formulation of plans for its commencement.
Additionally, President Tinubu assured leaders of the National Association of Nigerian Students that the program would commence shortly, with plans to incorporate additional features such as vocational studies.
However, just 48 hours before the scheduled launch, Sawyer disclosed that the program’s launch was postponed due to the need for some adjustments to be made.
Sawyer speaking on Tuesday said the launch had been postponed as some corrections are being made around the launch itself.
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He, however, did not give a new date for the launch.
“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.
“One thing that I will commit to is that this is a well-intended project. The president, President Bola Ahmed Tinubu means well around this and absolutely wants this rolled out as fast as possible, and we’re working very hard to help realise that,” Sawyer said.
