Tinubu signs student loan amendment bill into law

Tinubu signs student loan amendment bill into law

President Bola Tinubu on Wednesday, April 3, signed the student loans amendment bill into law. The signing was carried out at the Presidential Vill

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President Bola Tinubu on Wednesday, April 3, signed the student loans amendment bill into law.

The signing was carried out at the Presidential Villa, Abuja.

The Special Assistant to the President on social media, Dada Olusegun in a statement announced the signing.
He wrote, “President Bola Ahmed Tinubu has signed the Student Loans Re-enactment Bill into law at the State House.
”The executive bill titled “A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund as a body corporate to receive, manage and invest funds to provide loans to Nigerians for higher education, vocational training and skills acquisition and for related matters was signed at the State House in the Presence of the leadership of the National Assembly, Ministers and major stakeholders of education.”

The Senate in March passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

The resolution of the upper legislative chamber followed its consideration of the report of its Committee on Tertiary Institutions and TETFUND that considered the Bill.

Chairman of the committee, Senator Muntari Dandutse presented the report during plenary.

Recall that President Bola Tinubu transmitted the Bill to the National Assembly for its consideration and passage.

The Senate had given the Bill accelerated hearing by suspending relevant sections of its standing rules and referred the Bill to the Committee of the Whole for consideration.

The Federal Government had earlier postponed the launch of the Students Loan Scheme.

Executive Secretary of the Tertiary Education Trust Fund, TETFUND, Sonny Echono said the launch of the student loan scheme was only postponed to make sure that there are no complications in the proper implementation of the scheme and to ensure that the scheme is up to standard.