Tinubu Announces The Commencement Of The Student Loan Scheme In January
President Bola Ahmed Tinubu
President Bola Tinubu, on Monday, reaffirmed that the Student Loan Scheme, which he initially approved on June 12, 2023, will officially kick off in January 2024. He also pledged that recurring episodes of industrial actions by academic staff unions in tertiary institutions will be consigned to history.
Tinubu made this announcement during the opening of the 29th annual Nigeria Economic Summit at Transcorp Hilton, Abuja. He emphasized his administration’s commitment to stabilizing the economy through a collaborative effort involving all stakeholders, particularly the private sector. He also highlighted the immediate need to establish a sustainable credit scheme, which he believes will contribute to a more effective anti-corruption campaign.
The President stated, “By January 2024, the new Student Loan Programme must commence. For the sake of our children and students, we’re saying no more strikes.“
Tinubu’s comments follow his recent approval of a partial waiver of the “No Work, No Pay” order implemented against striking members of the Academic Staff Union of Universities (ASUU). The strike, which lasted for eight months, began on February 14, 2022, and concluded on October 17, 2022. The waiver allows formerly striking ASUU members to receive four months of withheld salary accruals out of the eight months of unpaid salaries during the industrial action.
The Nigeria Economic Summit is organized by the non-profit think-tank, the Nigerian Economic Summit Group.
