President Bola Tinubu on Monday signed into law Students Loan bill, paving way for indigent nigerian Students to access loans at interest-free rates.
A senior aide to the president, Dele Alake, disclosed this to State House Correspondents on Monday evening.
The bill which 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.’ was sponsored by Femi Gbajabiamila.
The legislation passed second reading at the House of Representatives on May 25, 2023.
President Tinubu in a remark following the signing noted that the bill will break the financial barrier in the access to affordable and quality education by all Nigerian students.
"I was pleased to have signed into law, the ‘Access to Higher Education Act’ today. The Act provides interest-free loans to deserving students across the country wishing to further their education in tertiary institutions.
"With this Act we shall ensure that every deserving student has access to affordable and quality education, irrespective of their financial background.", the President said.
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