In fulfilment of the promise made during his campaign, President Bola Tinubu has signed into law the Student Loan Bill.
This was announced on Monday by the spokesperson to the Federal Government Mister Dele Alake, saying that the funds will be domiciled in the Ministry of Education and will only be accessed by indigent students of tertiary institutions.
The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, which provides for interest-free loans to indigent Nigerian students, passed the third reading at the House, two weeks ago.
The law which will see the establishment of an education bank is also expected to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.