From Victor Osula, Abuja
President Bola Tinubu, on Wednesday, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.
The President signed the Bill into law on Wednesday in a short ceremony at the State House in the presence of the Deputy President of the Senate, Barau Jibrin, the Minister of State for Education, the Minister of State for Youth, other government officials and aides to the president.
Special Assistant to the President on Social Media, Dada Olusegun, confirmed the development in a post on X.
“President Bola Ahmed Tinubu has signed the Student Loans Re-enactment Bill into law at the State House.
”The executive bill 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 related matters was signed at the State House in the Presence of the leadership of the National Assembly, Ministers and major stakeholders of education”, the post read.
The National Assembly passed the bill after it was considered in both the lower and upper legislative chambers.
The bill proposed to offer Nigerians simple access to higher education through interest-free loans from the Nigerian Education Loan Fund, which was established by the Act to ensure education for all Nigerians.
