President Bola Tinubu has signed the Student Loan Bill into law.
A representative of the Federal Government, Dele Alake, disclosed this to State House Correspondents on Monday evening.
The bill will enable Nigerian students to access loans at interest-free rates.
Dateline Nigeria reported that the bill, which was sponsored by Speaker Femi Gbajabiamila was passed by the National Assembly in November, 2022.
The Bill seeks the establishment of the Nigerian Education Bank, which shall have powers to supervise, coordinate, administer, and monitor the management of student loans in Nigeria and receive applications for students loan through higher institutions in Nigeria on behalf of the applicants, screen the applications to ensure that all requirements for the grant of students’ loan under the Act are satisfied.
