The Access to Higher Education Act, popularly known as Students Loan Law, is set to be implemented by the Federal Government of Nigeria. The Act was recently signed into law by the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR.
Nigerian President Tinubu has declared that the loan programme “must start” in January 2024 and that there will be no more industrial action in tertiary institutions. He also said that a new Students Loan Programme “must start” by January 2024.
“For the sake of our children and our students, we say no more strikes,” he said.
Speaking further on the country’s economy at the National Economic Summit, Tinubu said that “we need to create an economy with an adequate consumer credit”.
He said, “We must have consumer credit, and the system must be implemented as quickly as possible. We cannot talk of anti-corruption if you have to find money to buy a vehicle when there are no mortgages to buy a house. Where can a civil servant get N3m or N5m for a house without corruption?”
He also said, “The Federal Government is determined to turn education into an attractive business and to solve the problems in the sector for national development.”