ENUGU, Nigeria (VOICE OF NAIJA) – The Federal Government of Nigeria has announced plans to begin the disbursement of students’ loan from September and October.
This was announced by David Adejo, the permanent secretary at the federal ministry of education.
He made the announcement while answering questions from journalists in Abuja, on Wednesday.
Recall that President Bola Tinubu had on Monday signed the bill to give students access to interest-free loans.
Voiceofnaija.ng reports that this is in fulfilment of a promise President Tinubu made during his campaign.
The loan was announced by the spokesperson to the Federal Government Mister Dele Alake, on Monday.
Alake said that the funds will be domiciled in the Ministry of Education and will only be accessed by indigent students of tertiary institutions.
He noted that the student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, adding that it provides for interest-free loans to indigent Nigerian students, passed the third reading at the House, two weeks ago.
The law is to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.