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The federal government, on Wednesday, January 17, reaffirmed that the January target for the take off of the Students Loan Scheme is still very much intact.
Minister of State for Education, Yusuf Sununu, gave the affirmation while addressing journalists after the Federal Executive Council (FEC), presided over by President Bola Tinubu at the State House, Abuja.
According to the Minister, that all is now set for the scheme to begin with the completion of the Student Loan Scheme’s website and conclusion on technical plans that would facilitate the kick off of the scheme.
He also stated that funds have been made available for the scheme in the 2024 Appropriation Act as well as the Supplementary Budget for 2023.
He noted: “January is a reality for the commencement of Student loan scheme in Nigeria, already the website is almost done. Application for beneficiaries will be online, criteria for students to get admission is that you must be a Nigerian and find yourself in a public school and application is also online which will be processed timely and you can access your loan within 30 days.
Funds have been set aside in the 2024 appropriation act so as also the supplementary budget for 2023.”
Meanwhile, Sununu had earlier disclosed that the Ministry of Education presented a note to the council, prepared by the ministry and the National Universities Commission, on the guidelines for implementing transnational education in Nigeria.
He explained that the scheme would allow foreign degree-awarding institutions the room to set base in Nigeria, employ local talent, admit local students and lessen the pressure on existing higher institutions of learning.
Explaining the rationale for this, he cited Nigeria as a member of the World Trade Organisation since 1995 and a signatory to the General Agreement of Trade in Services, which was signed in 1995.
