In order to fulfill a campaign pledge, President Bola Tinubu signed the Student Loan Bill into law.
This was announced on Monday by Federal Government spokesperson Mister Dele Alake, who stated that the monies will be housed at the Ministry of Education and will only be available to needy tertiary students.
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The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, which provides for interest-free loans to indigent Nigerian students, passed the third reading at the House, two weeks ago.
The law is to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.