The NAUS reaction is coming following an announcement by the Executive Secretary of the Nigeria Education Loan Fund, Dr Akintunde Sawyerr, during an Arise News interview that the Thursday launch is no longer feasible.
Recall that Tinubu signed the Access to Higher Education Act, 2023 popularly known as the Students Loan Law into law on June 12, 2023, noting that the development was to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.
The government initially planned for the scheme to start in September, but it didn’t happen.
Later, Tinubu set January 2024 as the new target to launch the Students Loan Scheme.
While inaugurating the 29th session of the annual Nigeria Economic Summit in Abuja on October 23, 2023, the President stated, “The new Students Loan Programme must begin by January 2024. We’re committed to our children’s future and ensuring uninterrupted education.”
He allocated N50 billion for its launch in the 2024 budget he submitted to the National Assembly in November.
Reacting to the postponement, the National President of the Association Comrade Obaji Marshall in a statement on Wednesday, described the development as unacceptable, adding that it was an extension of the sufferings of Nigerian Students.
“The postponement of the takeoff of the Student loan scheme is badly received by NAUS, and we have no choice but to fault the government on this, over its refusal to adhere to our earlier requests.
“Although the Federal Government scored a first for introducing the idea, NAUS is unhappy with the absence of Student representation in the special committee which could be partly responsible for the delayed takeoff,” he said.
The NAUS President, however, called on Central Bank Governor Mr Olayemi Cardoso and Mr Akintude Sawyer NELFUND Executive Secretary, to work overtime in delivering the novel idea, and relieve the expectations of eager students.
Marshall insisted that “the postponement is unacceptable, and we call on Mr President to sound it to stakeholders/all parties responsible and involved that the Student Loan Scheme needs to begin as soon as possible, as university students and their colleagues across other tertiary institutions are very expectant.”
