President Bola Ahmed Tinubu has returned the Students Loans Bill to the House of Representatives for further consideration, signalling a pivotal moment in the ongoing efforts to enhance access to higher education.

During Thursday’s plenary, Speaker Tajudeen Abbas disclosed that the president’s letter, urging “expeditious consideration” of his request, had been received.

This move comes amid challenges encountered in implementing the existing Act, which was among the initial legislation signed by President Tinubu upon assuming office. The bill, initially sponsored by Femi Gbajabiamila, Chief of Staff to the President during his tenure as Speaker, aims to refine the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility criteria, loan purpose, funding sources, and disbursement and repayment procedures.

Despite multiple postponements of the scheme’s launch, the government has grappled with its implementation, culminating recently in the indefinite suspension of the student loan program.

In his letter to the House of Representatives, President Tinubu emphasized the bill’s objectives, stating, “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.”

Expressing hope for swift consideration, the president concluded, “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.”

Author: Deborah Oyinloye

With an interest in media, Deborah aims to impart the lives of people positively.

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