"Nigerian Students Loan Scheme Launch Postponed Indefinitely, Stakeholders Await Alignment"

"Nigerian Students Loan Scheme Launch Postponed Indefinitely, Stakeholders Await Alignment"

The eagerly anticipated launch of the Nigerian Students Loan Scheme, a flagship initiative spearheaded by the Bola Tinubu-led government, has been abruptly postponed just two days prior to its scheduled commencement. Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), disclosed this development during an exclusive interview with AriseTV on Tuesday.

Originally slated to kick off on Thursday, the loan scheme has encountered yet another setback, with Sawyer citing the need for corrections and alignment among stakeholders as reasons for the delay. Expressing regret over the postponement, Sawyer refrained from committing to a specific rescheduled date, emphasizing the imperative of ensuring comprehensive alignment among all parties involved to ensure a seamless and sustainable rollout.

The genesis of the Nigerian Students Loan Scheme dates back to June 2023 when President Tinubu sanctioned the establishment of a Students Loan Fund (SLF) aimed at providing interest-free loans to Nigerian students pursuing higher education. The initiative, initially proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, had initially aimed for a launch between September and October 2023. However, delays ensued, pushing the anticipated commencement to January 2024.

In January, during a Federal Executive Council (FEC) meeting, Minister of State for Education, Yusuf Sununu, affirmed that all requisite preparations had been finalized, including the development of the Student Loan Scheme website and the technical arrangements necessary for the scheme's implementation.

Despite these assurances, the latest postponement underscores the challenges inherent in executing large-scale educational initiatives and highlights the complexities involved in coordinating multiple stakeholders. As Nigerians eagerly await further updates, the rescheduled launch date remains uncertain, pending the resolution of outstanding logistical and alignment issues.

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