The President Bola Tinubu-led Nigerian government has postponed the launch of the Nigerian Students Loan Scheme indefinitely.
The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, made this known during an interview with Arise News on Tuesday.
In June 2023, Tinubu signed a bill to start a Student Loan Fund that would give interest-free loans to Nigerians for higher education.
A former Speaker of the House of Representatives, Femi Gbajabiamila, had proposed the bill, and it was supposed to start between September and October 2023.
Meanwhile, Tinubu said the programme would begin in January 2024, after missing the October deadline.
In January, the Minister of State for Education, Yusuf Sununu, said at a meeting that preparations for the program were finished.
This included creating the Student Loan Scheme website and planning how to start the programme.
Also, Tinubu told leaders of the National Association of Nigerian Students (NANS) that the programme would start once they added more features, like vocational studies.
However, barely 48 hours before the launch, Sawyer said the loan scheme was postponed due to some corrections that were being made around the launch.
“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome, and sustainable way,” he said.
