Naijafavourite
President Bola Ahmed Tinubu has instructed federal tertiary institutions in Nigeria to halt any increase in students’ school fees. The aim is to prevent difficulties for parents and students in paying fees due to economic circumstances in the country. Tinubu has also removed all restrictions on student loans, making it more accessible. The government is working to ensure vulnerable students benefit from conditional cash transfers and food distribution. Tinubu will prioritize education, improve welfare for staff, and invest in infrastructure in higher learning institutions. The students loan scheme had previously had strict criteria, but these restrictions have now been removed.
President Bola Ahmed Tinubu has instructed federal tertiary institutions nationwide to immediately stop increasing students’ school fees.
In a statement issued by his special adviser on Communication and Strategy, the president stated that this order aims to alleviate the difficulties faced by parents and students in paying their fees amidst the economic challenges in the country.
The President’s special adviser also disclosed that Tinubu has approved the removal of all restrictions on student loans to ensure easy accessibility for students.
The statement quoted, “In line with his commitment to ensure that no Nigerian student abandons their educational pursuits due to financial constraints, President Tinubu has also approved the removal of all restrictions on student loans to make them available to any student or household in need.”
“Furthermore, President Tinubu has directed all federal higher learning institutions to avoid arbitrary increases in various payable fees and, if possible, defer any further increases to alleviate the burdens faced by parents and students.”
“While it is important to emphasize that President Tinubu has released over 200,000 Metric Tonnes of grains to families across the country, the government is also working on providing conditional cash transfers and food distribution to vulnerable students.”
“The federal government commends the bravery, wisdom, and partnership of Nigerian students during these challenging times.”
” President Tinubu will continue to prioritize education and the needs of students, improve the welfare of teaching and non-academic staff, and invest in infrastructure to enhance the global competitiveness of our higher learning institutions.”
Prior to this announcement, there were strict eligibility criteria for accessing the student loan scheme, which was recently approved by the Senate and enacted into law.
Many Nigerians were skeptical about accessing the loan despite acknowledging its benefits. However, the removal of restrictions is expected to bring relief to students.
Previously, candidates had to meet several conditions to be eligible for the loan, including securing admission to a public Nigerian university, polytechnic, COE, or TVET school, and having an income or family income below N500,000 per annum.
Applicants were also required to provide at least two civil servants or a lawyer, judicial officer, or Justice of Peace as guarantors. Those who have defaulted on previous loans or have been found guilty of exam malpractice, felony, or drug offenses were not considered.
Repayment of the loan starts two years after the completion of the National Youth Service Corps program, and the amount is deducted directly from the beneficiary’s salary or self-employed income.
