The signing ceremony at the State House in Abuja followed the announcement of a temporary suspension of the commencement of the student loan scheme.
The executive bill-turned-law, 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”, will enable Nigerian students in tertiary institutions to access low-interest loans to cover tuition fees and other academic expenses.
