Are you accessing this website using an Android phone?
If yes, the stress is over, just click the below button to download and install our Android app and we will hence bring the news to your doorstep.
President Bola Tinubu has signed the Students Loan Bill into law, which was part of his campaign promises.
The law would allow indigent students in tertiary institutions to access a federal government loan for the duration of their studies.
Dele Alake, an aide to Mr. Tinubu, disclosed this on Monday at the end of the signing at the Presidential Villa, Abuja.
Mr. Alake said the bill would boost the educational pursuit of the youths across the country, adding that to enjoy the facility, students must show evidence of being indigent.
He said that a committee drawn from all the relevant education stakeholders would be set up to handle the process of an efficient disbursement of the loans.
Mr. Alake said that a percentage of the revenue of the federation would be used to finance the new initiative.
The law stipulates a two-year imprisonment or N500,000 fine for defaulters and conspirators.
Andrew Adejo, the permanent secretary in the Ministry of Education, said the bill would rest the case of funds hindering indigents’ educational pursuit.
He said the signing of the bill signified how the Tinubu administration intended to handle the issue of qualitative and quantitative education in its period.
Mr. Adejo said the ministry already had experience in students’ financial dealings through the student scholarship boards scheme.
He added that the country’s handling of loan recovery in various projects would also come in handy in the recouping of loans.
He added that the interest-free loan would be disbursed based on the student’s number of years of study and ability to pay back.
The permanent secretary said the media should assist in disseminating information on the issue of funding of education in the country.
He said the states should march the financial and technical support of the federal government in order to give Nigerians a good education
Join Our WhatsApp Channel
DEAR READER,
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government. For continued free access to the best investigative journalism in the country, we ask you to consider making modest support to this noble endeavor. By contributing to The Trumpet News, you are helping to sustain journalism of relevance and ensuring it remains free and available to all. Your donation is voluntary — please decide how much and how often you want to give.
For offline donations, email donations@thetrumpetngr.com or call +2347026891070:
You May Also Like This...
