The Nigerian government has indefinitely postponed the launch of the Student Loan Scheme, which was earlier scheduled to take place on Thursday.
Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this in an interview with Arise News on Tuesday.
Sawyer explained that the launch was postponed due to the need for corrections to be made around the launch itself.
He did not provide a new date for the launch but emphasized the government’s commitment to the project, stating that President Bola Ahmed Tinubu is eager to see it rolled out as soon as possible.
InfoStride reported that President Tinubu signed into law the Access to Higher Education Act, 2023, on June 12, 2023, a significant step towards providing interest-free loans for underprivileged students in Nigerian tertiary institutions.
The scheme was initially slated to take effect in September but faced delays in implementation.
Despite the delays, Tinubu remained determined, affirming that the program would be launched in January 2024.
The presidency later announced that the scheme would be introduced on Thursday, the 14th of March, a date that has now been postponed indefinitely.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate