President Bola Tinubu has assented to the Students’ Loan Bill to expand access to tertiary education.
Briefing State House Correspondents in Abuja on how the facility could be accessed, the Permanent Secretary, Ministry of Education, Mr Adejo Andrew, explained that a Students’ Loan Board would be established to handle the disbursement.
According to him, the loan would be interest-free to make repayment easier.
Contributing, a member of the Presidential Strategic Team, Mr. Dele Alake, emphasised that the loan is solely for the purpose of creating opportunity for indigent students to access education.
The bill which will enable Nigerian students to access loans at interest-free rate passed second reading on May 25, 2023 at the House of Representatives.