Tinubu Reveals Delay in Student Loan Scheme and Other Social Interventions

President Bola Tinubu recently addressed the delay in the commencement of the Student Loan Programme and other social intervention programs in Nigeria.

The Nigerian leader explained that the delay is due to the ongoing fine-tuning of these initiatives to ensure their successful implementation.

Tinubu made these remarks during the flag-off of the Agric Mechanisation Revolution for Food Security in Minna, Niger State.

He assured the public that the Student Loan Programme, employment benefits for graduates, and social security programs for the elderly and vulnerable will commence soon.

The Student Loan Programme, which was initially scheduled to begin on February 26, 2024, has been rescheduled to March 1, 2024.

The shift in the kick-off date is attributed to the process of expanding the scheme to include students of vocational schools.

This is the fourth time the launch date has been changed since the initiative was unveiled in mid-2023.

The loan is open to all Nigerian students in the nation’s higher institutions, with a flexible repayment plan starting from two years of earning an income after the mandatory national youth service.

The Students Loan Fund (SLF) bill, which established interest-free loans for Nigerians pursuing higher education, was signed into law by President Tinubu in June 2023.

In addition to the Student Loan Programme, the government is also working on other social intervention programs, such as employment benefits for graduates and social security programs for the elderly and vulnerable.

These initiatives are being fine-tuned to ensure their successful implementation and to address any challenges that may arise.

As the Nigerian government continues to work on these social intervention programs, the public eagerly awaits their commencement, which is expected to have a significant impact on the lives of many citizens.