Tinubu Transmits Students Loan Bill 2024 to for Enactment

President Bola Ahmed Tinubu has urged the House of Representatives to repeal the Students Loans Act 2023 and replace it with the Students Loan Bill 2024 in a bid to enhance the implementation of the student loan scheme.

During Thursday’s plenary session, Speaker Abbas Tajudeen disclosed that the president had forwarded a letter advocating for the repeal and enactment of new legislation.

President Tinubu cited the need to address challenges associated with the existing Students Loans Act 2023 as the primary motive behind the proposed overhaul. He emphasized the necessity of ensuring the effective execution of the student loan scheme under his administration.

The letter reads, “Pursuant to Section 58(2) of the Constitution of The Federal Republic of Nigeria, 1999 (as amended). I forward, herewith, The Student Loan (Access to Higher Education) (Repeal and Re-Enactment) Bill, 2024 for the kind consideration of the House of Representatives.

“The Student Loan (Access to Higher Education) (Repeal and Re- Enactment) Bill, 2024 seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

“Whilst hoping that this submission will receive the usual expeditious consideration of the House of Representatives, please accept, Rt. Honourable Speaker, the assurances of my highest consideration.”

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