Last year, President Bola Tinubu announced the introduction of a loan scheme for students that will be accessible to all Nigerian students.

Now, the time to float that scheme and make it accessible is here.


The President’s Special Adviser on Media and Publicity, Ajuri Ngelale, gave an update on the matter.

tinubu student loan ngalale


According to President Bola Tinubu’s aide, the president will lunch the Students Loan Scheme on Thursday, March 14, 2024.

Mr. Ngelale gave the update while speaking on a TVC programme entitled, ‘Counting the Cost of Presidents Tinubu’s Reforms,’ on Sunday, March 10, 2024.


While highlighting some of the welfare initiatives being implemented by the President, Ngelale said: “Later this week, on Thursday, the President will launch the historic National Student Loan Programme.

“This is a major form of obligation reduction for Nigerians and families and young people at a time when Nigerians are feeling the pinch. We believe this is the way to go”.

Several Kick-off Dates

This is coming nine months after Tinubu signed the Access to Higher Education Act, 2023, into law to enable indigent students to access interest-free loans to fund their education in any Nigerian tertiary institution.

Popularly known as the Students Loan Law, the Act also birthed the Nigerian Education Loan Fund.


Basically, this fund has the responsibility to handle all loan requests, grants, disbursement, and recovery.

The government had announced several dates for the kickoff of the scheme since Tinubu signed the law on June 12, 2023, but it never took effect.


After missing the initial take-off date in September, the President promised Nigerians that the scheme would go live in January 2024.

“By January 2024, the new Students Loan Programme must commence.

Also Read: Tinubu Orders Customs To Release Seized Food Items To Owners

“To the future of our children and students, we’re saying no more strikes!” he said at the opening of the 29th session of the annual Nigeria Economic Summit in Abuja on October 23, 2023.

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