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Tuesday, April 23, 2024

Launch of Nigerian students loan scheme delayed indefinitely

Federal Government Postpones Implementation Over Uncertainty and Stakeholder Alignment Challenges

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The much-anticipated launch of the Nigerian Students Loan Scheme, aimed at providing interest-free loans for higher education, has been postponed indefinitely, according to Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund.

Originally slated to commence between September and October 2023 following the signing of a bill by President Bola Tinubu in June 2023, the scheme faced successive delays, with its implementation pushed back to January 2024 after missing initial deadlines.

Despite assurances from Tinubu and Minister of State for Education, Yusuf Sununu, regarding the program’s readiness and preparations, Sawyer cited ongoing corrections and alignment challenges as reasons for the postponement, casting uncertainty over the scheme’s future rollout.

In an interview with ARISE NEWS, Sawyer expressed reluctance to commit to a specific launch date, emphasizing the need for comprehensive stakeholder alignment to ensure a seamless and sustainable implementation process.

Acknowledging the disappointment and anticipation surrounding the scheme’s launch, Sawyer underscored the importance of addressing all operational intricacies and stakeholder concerns before proceeding, prioritizing a cohesive and well-coordinated approach over hasty execution.

The postponement underscores the complexities inherent in establishing large-scale educational initiatives and highlights the imperative of thorough planning and stakeholder engagement to navigate challenges and ensure the program’s long-term success.

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