Student Loans Bill, A Game Changer In Nigeria’s Education Sector – Olawande

The Minister of State for Youth Development, Hon. Ayodele Olawande, has commended President Bola Tinubu for signing the Student Loans Amendment Bill 2024, stressing that it is a game changer in the country’s education sector.

Olawande noted that the move is going to open a door of opportunities for Nigerian students and young people, looking to pursue higher education and skills development.

He said the Nigeria Education Loan Fund is a platform for young Nigerians who desire higher education but are constrained financially to achieve their dreams, in a bid to contribute their quota to the development of the country.

Olawande urged would-be beneficiaries to optimise the opportunity, as the Ministry of Youth Development, is committed to partnering with relevant stakeholders, to make the process seamless.

The Minister said, “On Wednesday, I witnessed the historic signing of the Student Loans (Access to Higher Education) bill into law by President Bola Ahmed Tinubu. The groundbreaking law is poised to change the future of education in Nigeria forever! Indeed, the law is a game-changer in our education system, which is going to open up a world of opportunities for all Nigerian students and young people looking to pursue higher education and skills development.

“The event of Wednesday was a culmination of a painstaking process, including a public hearing, which I attended alongside other education and civil society stakeholders on 18th March 2024. This new law creates the Nigeria Education Loan Fund (NELFUND) to support students financially so they can study without worrying about tuition and other school-related expenses.

“”But the law is not just about loans – it is a significant step towards making education accessible to everyone, ensuring that all Nigerian youths can dream big and achieve even bigger.

“To every young person willing to dream and aspire, this law is your invitation to step up, get educated, and contribute to the growth and development of our dear country. Whether you are aiming for a degree, considering vocational training, or looking to pick up new skills, the door is now open. The Student Loan Act is a call to action for Nigerian youths to go for their educational dreams and prepare themselves to be the leaders and innovators of Nigeria’s tomorrow.

“At this juncture, I must commend President Bola Tinubu for his visionary move – first to strengthen the bill with new inclusions to cover initially excluded student groups, and secondly by giving his quick assent to the bill. Nigerian youth are grateful. By assenting to the Student Loans (Access to Higher Education) Act, President Tinubu has shown that he is not just talking about investing in the future; he is also committed to making it happen. I believe the future of Nigeria looks bright and promising. It’s time for every young person to grab this opportunity with both hands.

“On our part, the Ministry of Youth Development will work closely with NELFUND to ensure that the law is effective and that the youth of Nigeria derive maximum benefits that would aid their quest for quality education.