National Wire About Nigerians, Nigerian Business and Other Stories
True to one of his campaign promises, Nigeria’s President, Bola Tinubu has signed the Student Loan Bill into law.
A presidential aide, Dele Alake, revealed the development to State House Correspondents on Monday in Abuja.
The bill which had passed second reading at the House of Representatives on May 25, 2023, four days to the end of the tenure of former President Muhammadu Buhari
was sponsored by Honorable Femi Gbajabiamila and titled ‘A Bill for an Act to provide for easy access to higher education for Nigerians through an interest-free loan from the Nigerian Education Bank established in this Act to provide education for Nigerians and other purposes connected thereto.’
Meanwhile, the Students Loan Bill
will enable Nigerian students access loans at interest-free rates. It also recommended two years imprisonment or N500,000 or both for students who default in repayment or anyone found aiding defaulters.
