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Federal Government Delays Launch of Nigerian Students Loan Scheme

The anticipated launch of the Nigerian Students Loan Scheme by the Federal Government has been postponed indefinitely. This decision was relayed by Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, during an interview with Arise News on Tuesday.

Originally slated to commence on Thursday, the loan scheme has faced yet another delay due to ongoing adjustments required before its launch. Sawyer elaborated, expressing uncertainty about setting a definitive date, emphasizing the necessity of aligning all stakeholders to ensure a smooth and sustainable rollout.

President Bola Tinubu had signed a bill in June 2023 to establish the Students Loan Fund, aiming to provide interest-free loans for higher education to Nigerians. Initially planned for a September-October 2023 start, the program was postponed to January 2024 following government delays.

In January, Minister of State for Education, Yusuf Sununu, confirmed the completion of preparations for the program, including the development of a dedicated website and logistical planning. President Tinubu assured leaders of the National Association of Nigerian Students (NANS) during their visit to the State House in Abuja that the program would launch once additional features, such as vocational studies, were incorporated.

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