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President Tinubu Signs 2023 Student Loan Act into Law

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ABUJA, Nigeria – President Bola Tinubu has assented to the 2023 Student Loan Act, a bill aimed at bolstering access to and delivery of tertiary education.

The legislation, passed by the 9th National Assembly, was signed into law on Monday, June 12, 2023, at the Presidential Villa in Abuja.

Andrew Adejo, the permanent secretary of the Federal Ministry of Education, alongside Dele Alake, a senior aide to the President, highlighted that the Act would enable financially disadvantaged students to access loans to further their education.

Alake pointed out that this loan initiative was part of President Tinubu’s campaign promises. He said, “Today, President Bola Ahmed Tinubu has just signed the Student Loan Act.

This is just in fulfilment of his promise during the electioneering campaigns, where he promised that students would access loans to go to school.”

Meanwhile, Adejo, the Permanent Secretary of the Ministry of Education, explained that the already established Federal Scholarship Board was previously hindered by a lack of funds and required an enabling act to function effectively.

With the enactment of this new law, he said, the procedures for seamless access to education loans would now be significantly streamlined.

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