•Says no one’ll be excluded from quality education –Tinubu
From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has vowed that no one, no matter how poor their background, would be excluded from quality education and opportunity to build their future, going forward.
He made the vow when he signed the Student Loans Re-enactment Bill into law at the State House, yesterday.
The executive bill, entitled: “A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund,” was signed at the State House in the presence of the leadership of the National Assembly, ministers and major stakeholders in education.
The president said: “I have just signed a bill proclaiming the student loan effectively. First of all, I must thank members of the National Assembly for their expeditious handling of this bill considering the children of Nigeria, that education is the tool to fight against poverty effectively.
“We are determined to ensure education is given the proper attention necessary for the country, including skills development programmes. This is to ensure no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.
“We are here because we are all educated and were helped. In the past, we have seen a lot of our children dropped out of college and given up the opportunity. That is no more, the standard and the control is there for you to apply no matter who you are as long as you are a Nigerian citizen.”
Also speaking, Minister of Education, Tahir Mamman, commended President Tinubu’s compassion and passion for the downtrodden, who are the beneficiaries of the scheme.
According to him, with the new law, the days when students will be struggling to sponsor themselves in their various educational endeavours are over.
Tahir said: “This is a very great day for the country, great day for education, great day for Nigerian students who have great need for support. We want to thank Mr. President for his compassion and passion for the downtrodden, who are the beneficiaries of this scheme.
“Now, the days when students will be struggling to sponsor themselves in their various educational endeavours are over, both at the tertiary and those who are seeking skills, who are seeking to be skilled, to be empowered and to move on with their lives. It is a very great day for the country.”
President of National Association of Nigerian Students (NANS), Lucky Emonife, expressed happiness that the children of the poor can have access to quality education.
“This is commendable. As for Nigerian students that are represented here, we are happy, we have seen Mr. President’s commitment to the development of education and today, the entire education system is happy; the Nigerian students, particularly, we are happy, our parents are happy, that yes, in Nigeria, even the children of the poor can have access to quality education.
“We have seen Mr. President’s commitment at the signing of the bill today, it shows Mr. President is the father of modern education in Nigeria and the initiator of this bill. He is a hero of education, so we are happy.
“We have never seen this before, the education system in Nigeria will have a turn around and we say this is a happy moment for us, we will celebrate this. We are thanking Mr. President for this commitment, he made the vow and, today, it has come to fulfilment, so we are happy.
“You will see that even Nigerian parents will be happy and we pray that those that will be given the responsibility will effectively carry it out to ensure Mr. President’s intention, vision and mission to ensure no Nigerian student is out of school because of school fees.
“Today, we are happy. God bless Mr. President and the initiator of this bill. We are happy it is happening now.”
The new legislation repeals the previous Students Loans (Access to Higher Education) Act of 2023 and re-enacts the Student Loans (Access to Higher Education) Bill from 2004.
The executive bill establishes the Nigerian Education Loan Fund as a corporate body tasked with receiving, managing and investing funds to provide loans to Nigerians pursuing higher education, vocational training and skills acquisition programmes.
The Student Loan (Access to Higher Education) Act 2023 was signed into law by President Bola Tinubu on June 12, 2023. The Act established the Nigerian Education Loan Fund (NELFUND) to supervise, coordinate, administer and monitor the management of student loans in Nigeria.
Newly Signed Student Loans Re-enactment law: Students Loans (Access to Higher Education) (Repeal and Re-Enactment) Act 2024
The Students Loans (Access to Higher Education) (Repeal and Re-Enactment) Bill 2024 resolves the challenges on the establishment of the Nigeria Education Loan Fund (NELFUND) as a corporate body that can sue and be sued in its name and has the power to acquire, hold, and dispose of movable and immovable property for the purpose of its functions.
This ensures the Fund can legally enter contracts, including loan agreements and may also initiate action to ensure repayment by beneficiaries.
The new law also empowers the Fund to provide loans to qualified Nigerians for tuition, fees, charges, and upkeep during their studies in approved tertiary education institutions and vocational and skills acquisition institutions in Nigeria.
It further seeks to build, operate, and maintain a diversified pool of funds to provide loans to qualified applicants and ensure access to higher education, vocational training, and skills acquisition.