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Tinubu Signs Revised Student Loan Bill Into Law

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In a significant step towards establishing Access to Higher Education in Nigeria, President Bola Tinubu has signed the new National Students Loan (Access to Higher Education) (repeal and re-enactment) Bill 2024 into law.

The Student Loan (Access to Higher Education) Act 2023, initially signed into law by President Tinubu on June 12, 2023, established the Nigerian Education Loan Fund (NELFUND) to oversee the Management of Students Loan in Nigeria.

However, challenges identified with its implementation prompted the proposal of the Student Loan (Access to Higher Education) (repeal and re-enactment) Bill 2024 to address these issues.

President Tinubu emphasized that Nigerian students will no longer be denied opportunities due to their economic circumstances.

The new law replaces the previous act, addressing challenges identified in its implementation. President Tinubu commended the National Assembly for promptly handling the bill, recognizing the urgency of providing equal educational opportunities to Nigeria’s youth.

Education Minister, Professor Tahir Mamman highlighted that the new law provides opportunities for Nigerians, particularly the underprivileged, to access quality education.

He also noted that the law accommodates the interests of those interested in skills acquisition.

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