The anticipated launch of the Nigerian Students Loan Scheme has been postponed indefinitely by the Federal Government.
Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this development during an interview with ARISE NEWS. Initially scheduled for Thursday, March 14, the launch has been delayed once again due to ongoing adjustments being made.
Sawyer emphasized the need for alignment among stakeholders before the scheme can be rolled out effectively and sustainably. He expressed regret over the inability to provide a specific date for the launch.
The establishment of the Students Loan Fund (SLF) was authorized by President Bola Tinubu in June 2023, aimed at providing interest-free loans to Nigerian students pursuing higher education. Initially proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, the scheme was slated to commence between September and October 2023.
However, due to delays, President Tinubu announced a new start date of January 2024. Minister of State for Education, Yusuf Sununu, confirmed the completion of preparations for the scheme during a Federal Executive Council (FEC) meeting in January, including the finalization of the Student Loan Scheme website and technical arrangements for its implementation.
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