The launch of the Student Loan Scheme, announced by President Bola Tinubu, has been postponed indefinitely. Akintunde Sawyer, Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this during an interview with Arise News on Tuesday. Sawyer explained that the launch was deferred because they are making some corrections for the event. However, he didn’t specify a new date for the launch. He stated that they need to ensure all stakeholders are aligned to guarantee that no one is caught off guard, then they can roll out the scheme comprehensively, sustainably, and meaningfully. Sawyer confirmed that the project is well-intentioned, and President Bola Ahmed Tinubu is eager to see it launched as soon as possible. The Access to Higher Education Act, 2023, was signed into law by President Bola Tinubu on June 12, 2023, a significant step towards providing interest-free loans for underprivileged students in Nigerian tertiary institutions. Tinubu’s minister, Dele Alake, who was a member of the Presidential Strategy Team, stated that Tinubu’s campaign promise to liberalize the funding for education was fulfilled. The Loan Scheme was initially scheduled to take effect in September, but the implementation was postponed. Nonetheless, Tinubu remained determined, and he declared that the scheme would be launched in January 2024. The presidency then announced that the scheme would be introduced on Thursday, the 14th of March, which has now been postponed.
