President Bola Tinubu has called on youths to take advantage of the student loan scheme initiated by his administration. In a national address on Sunday concerning the ongoing nationwide protests, he highlighted his government’s dedication to supporting young people through the implementation of this loan program.
To date, N45.6 billion has been processed for payment to students and their respective institutions.
“I encourage more of our vibrant youth population to take advantage of this opportunity,” the President said.
He recalled that on July 17, when he inaugurated the student loan scheme, he described it as a tool to combat poverty.
The President emphasized that the student loan scheme aligns with his administration’s commitment to inclusiveness and assured that there would be sufficient funding to sustain the program.
“Democracy is all about inclusiveness. Our goal is to build a society based on successful inclusiveness,” he said.
He added that education is the greatest weapon against poverty, essential for vision, development, and effectively combating insecurity, including terrorism and banditry.
The President had presented cheques to students from each of Nigeria’s six geo-political zones.
Currently, about N32 billion is available for disbursement to kickstart the program.
Since the application portal opened on May 25, 164,000 students have registered, with 103,000 applying for loans.
The initiative, which became law on April 3, 2024, as the Student Loans (Access to Higher Education) Act, aims to empower Nigerian youths by providing fair and transparent funding, thereby removing financial barriers to educational opportunities.
