President Bola Ahmed Tinubu (GCFR) on Monday signed into law, The Student Loan Bill, which provides for interest-free loans to indigent Nigerian students.
The bill will enable Nigerian students to access loans at interest-free rates.
Recall that Tinubu, during his campaign, had promised to give student loans as part of efforts to develop the education sector and also build the youth capacity.
Tinubu made the promise at the British Royal Institute in London.
“Youths are the greatest asset of tomorrow,” Tinubu said in Chatham House while fielding questions from participants at the event.
He that they will be part of his “all-inclusive” government, pointing to the Lagos State Governor Babajide Sanwo-Olu.
“The education system is to change. We would overhaul it and tinker with some areas with the philosophy that no one would be left behind. There will be student loans for all. We are going to reform the Almajiri system, We are equally going to build more schools, recruit more teachers and train them,” the former Lagos state governor said.
To further help young people, he said if elected, his government would equally introduce technology hubs where youths can acquire digital skills to better develop their leadership skills.
“Youths can even develop technological languages on their own and make a better 21st-century approach to governance in Nigeria,” he said.
COMMENT: Kudos to President Tinubu on this! My advise to the president is for him to ensure that this is not turned into a conduit pipe for fraud. Students and their families should not be made to pay bribes to officials during and after applications before accessing the loans.
An office should be set up in Aso Rock specifically for this purpose, where students and, or their relatives can report to directly, officials demanding bribes and related fraudulent practices.
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