President Bola Tinubu has taken a significant stride towards promoting inclusive access to higher education by signing the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law. 

The move follows thorough considerations by both the Senate and the House of Representatives of the report from the Committee on Tertiary Institutions and TETFund.

Speaking at the bill signing ceremony, President Tinubu emphasized the government’s commitment to ensuring that all Nigerians, regardless of their socio-economic backgrounds, have access to quality education. 

The executive bill, titled “A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004,” aims to establish the Nigerian Education Loan Fund. This fund will serve as a body corporate tasked with receiving, managing, and investing funds to provide loans for higher education, vocational training, skills acquisition, and related educational endeavors.

The signing ceremony, which took place in the presence of the National Assembly leadership, ministers, and key education stakeholders, marks a significant milestone in the government’s efforts to enhance educational opportunities and skills development across Nigeria. 

President Tinubu expressed gratitude to the National Assembly for promptly considering the legislation, underscoring the administration’s determination to elevate the skill levels of Nigerians and equip them for success in various sectors of the economy.

With the enactment of this legislation, the government aims to bridge the gap in access to higher education and empower individuals from diverse backgrounds to pursue their educational aspirations.