The Federal Government has indefinitely postponed the launch of the Nigerian Students Loan Scheme.
Revealing this in an interview with ARISE NEWS, Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), who disclosed that the loan which was formally scheduled to take off on Thursday, March, 14, however noted that the scheme has been postponed again.
Sawyer said that there are some corrections that are being made around 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.” He added.
Recall that President Bola Tinubu signed the bill into law in June 2023, to establish a Students Loan Fund (SLF) to provide interest-free loans to Nigerians seeking higher education.
The bill, sponsored by Femi Gbajabiamila, the former Speaker of the House of Representatives, was initially planned to kickstart between September and October 2023.
President Tinubu announced that the scheme would commence in January 2024, after his Government failed to meet the October deadline last year.
However, in January while speaking to journalists, Yusuf Sununu, Minister of State for Education, confirmed at the Federal Executive Council (FEC) meeting, that preparations were completed for the scheme to kickstart, including the finalization of the Student Loan Scheme website and the conclusion of technical plans to facilitate the scheme’s kick-off.
