President Bola Tinubu has signed into law the Student Loan Bill in fulfilment of a promise he made during his campaign.
The spokesperson to the Federal Government Mister Dele Alake, says that the funds will be domiciled in the Ministry of Education and will only be accessed by indigent students of tertiary institutions.
The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, which provides for interest-free loans to indigent Nigerian students, passed the third reading at the House, two weeks ago.
The law is to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fund.