Why I Signed Students Loan Bill Into Law – Tinubu Speaks

President Bola Tinubu has expressed his satisfaction after signing the students’ loan bill into law on Monday in Abuja.

Taking to his Twitter account, President Tinubu stated that the signing of the bill ensures that every deserving student has access to affordable and quality education, regardless of their financial background.

He expressed his pleasure in signing the bill into law, emphasizing its importance for the nation’s educational system.

“I was pleased, today, to have signed into law, the Access to Higher Education Act which provides interest-free loans to deserving students across the country who wish to further their education in tertiary institutions.

“With this Act we shall ensure that every deserving student has access to affordable and quality education, irrespective of their financial background,” he wrote.

However, the chairperson of the Federal University of Technology, Minna chapter of the Academic Staff Union of Universities (ASUU), Prof Gbolahan Bolarin, has voiced his condemnation of the students’ loan bill.

He believes that the law is not feasible as it fails to consider the unique circumstances of Nigeria before its enactment.

According to Prof. Bolarin, one of the main problems with Nigeria and such initiatives is that the leadership tends to replicate what they see in other countries without taking into account the specific conditions of Nigeria.

He expressed concern that it may be challenging for students who obtain the loan to repay it, considering the high unemployment rate among graduates and the inadequate minimum wage.

Prof. Bolarin revealed that ASUU has been opposed to the bill from the beginning.

He believes that the scheme is not feasible or sustainable and, therefore, is “dead on arrival.”