President Bola Tinubu will launch the Students Loan Scheme on Thursday, March 14, 2024, according to his Special Adviser on Media and Publicity, Chief Ajuri Ngelale.

The students loan scheme would allow indigent students in tertiary institutions access to credit to fund their education.

He disclosed this while speaking on a TVC programme titled, ‘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,”

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

On February 7, the Executive Secretary of the Nigeria Education Loan Fund, Dr Akintunde Sawyerr, said Tinubu would launch the scheme at the State House in Abuja on February 21, but that also failed to come to fruition.