President Bola Tinubu on thursday asked the Senate to repeal and re-enact the Access to Higher Education Act, 2023, otherwise known as the Students Loan Act. Tinubu’s letter came during plenary, a day after the announcement of a temporary suspension of the commencement of the student loan programme.

The law was enacted to give Nigerian students ample opportunity enrol in tertiary educational institutions to obtain low-interest loans in order to complete their education. The bill which was signed by Tinubu in June 2023 was expected to be launched on Thursday March 14, 2024, but was put on hold indefinitely by the federal government.

The Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, made the disclosure during an interview with Arise News on Tuesday, 12th March, 2024. He said:

“Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome, and sustainable way.”

The criticisms levelled at the qualifying requirements for applicants, repayment plans, and governance structure following the law’s signing may have some bearing on the president’s decision.