THE FEDERAL GOVERNMENT HAS POSTPONED THE COMMENCEMENT OF THE NIGERIAN STUDENT LOAN SCHEME INDEFINITELY.

Babatunji Wusu –

Akintunde Sawyer, Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this in an interview with Arise News.

According to Sawyer, the loan, which was originally scheduled to begin on March 14, 2024, has been postponed again due to some modifications being made around the launch date.

“Unfortunately, I will not be able to commit to a particular day. We are waiting to guarantee that all stakeholders are on the same page so that no one gets caught off guard, and then we can roll this out in a meaningful, comprehensive, wholesome, and sustainable manner.”

President Bola Tinubu signed the measure into law in June 2023, establishing a Students Loan Fund (SLF) to grant interest-free loans to Nigerians pursuing higher education.

The measure, proposed by Femi Gbajabiamila, the former Speaker of the House of Representatives, was originally scheduled to take effect between September and October 2023.